The Tech Business of the Year Award
CRITERIA
A record £24 billion was invested in UK tech businesses in 2022 and the UK was the first country in Europe to reach 100 tech unicorns, according to Tech Nation.
The pandemic increased the adoption of technology and in the years since digital transformation has accelerated the evolution of how and where we work, transact business and deliver impact.
The UK tech sector encompasses a range of industries, with disruptive technology enabling challengers to become market leaders. Tech businesses have re-written the rules on how to grow and create value.
This award recognises tech businesses demonstrating the highest levels of innovation, customer engagement and growth and a robust plan to deliver sustained financial success.
Open to any UK-based technology business, judges will look for those that are best demonstrating:
- Strong financial performance and plan for sustained, profitable growth
- Organic growth, effective optimisation of growth capital or acquisition to scale
- Inspirational leadership and effective management
- Innovation in tech products, solutions or services
- Exceptional customer service & engagement
- Engaged and productive employees
- Ethical practice and profit with purpose
SCORING AND WEIGHTING
In this category judges will compare the extent to which each candidate has demonstrated excellence in the following areas:
- Employee & Customer Engagement
- Leadership & Innovation
- Organisational Ethics & Policies
- Financial Performance & Growth
PROPORTION OF OVERALL SCORING
20% Employee, 25% Leadership, 20% Organisational, 35% Financial
ENTRY STATEMENT
In a summary of no more than 350 words, please describe what your business does, the market in which it operates and what differentiates you from your competitors. Please include your key business achievements that are significant for your market sector or industry. (Please note that should you become a finalist the answer to this question will be used in external PR & Communications to explain who you are)
In no more than 1200 words, explain why you should win this award using the bullet points below as a guide:
- Employee & Customer Engagement: 20%
- Provide evidence and case study examples of how employees and key stakeholders have been recruited, retained, motivated and optimised to deliver growth objectives.
- Provide case study examples and top line data to demonstrate how you have increased your customer base or market penetration over the last 18 months.
- Leadership & Innovation: 25%
- What is innovative or disruptive about your technology, business model, or tech product / service? What impact have you had on your industry?
- Provide evidence or case studies to demonstrate how innovation or your innovative approach has driven commercial success.
- Show how the management structure, leadership philosophy and culture of your company has supported growth or improved profitability over of the last year.
- Organisational Ethics & Policies: 20%
- How are ethical, environmental or social impact policies or initiatives aligned with your technology, business model, company values and growth objectives?
- How does your approach to diversity, equity and inclusion align with your overall ambition for the business?
- Explain how your ethical or diversity policy or sustainability strategy has improved employee / client attraction and retention.
- Financial Performance & Growth: 35%
- Explain your key growth metrics, including financial targets, KPIs, timescales and overall ambitions plus examples of milestones and barriers/challenges that have been overcome. Growth metrics can include tech adoption, subscription, lead generation, client base, headcount, NPS scores, etc.
- How do you benchmark against your peers in terms of sales, profitability or market share?
- How has your company performed against your growth plan and what will help you to sustain future growth?
- Show examples and/or case studies of what has supported, or will drive further, commercial success.
