What is the Tussell Tech200 2023?

On January 30th we launched the third annual edition of Tussell's Tech200 awards, in partnership with techUK - the UK's technology trade association.

The Tech200 list - which details the 200 fastest-growing technology companies in the UK public sector - spotlights some of the most innovative and dynamic companies supplying government with technology today.

The composition of each year's list provides a sense of what new technologies and solutions government is adopting, and just how quickly this market is growing.

The Tech200 shows us that despite the tricky climate within the procurement world, huge growth and change has been possible.

In this summary, we run through what the Tech200 is, and what its composition tells us about the state and future of the public sector tech marketplace.

Lloyd Johnson, COO, Tussell

"We're delighted to launch the third edition of our Tech200 list. It once again demonstrates the dynamic and resilient nature of the public sector tech market, with a mixture of innovative, new entrants and established suppliers across a wide range of tech services. I'm particularly pleased to see several Tussell customers on the list, following significant growth in the public sector."

❓  What is the Tussell Tech200?

The Tech200 is Tussell and techUK's annual list of the top 200 fastest-growing technology companies supplying the UK public sector. They were identified using Tussell's market intelligence platform.

We calculated the percentage growth in public spend with these firms between FY 2021/22 and FY 2022/23, and ranked them from highest to lowest.

Several criteria were used to identify as many technology firms as possible, and all entrants have been manually checked to validate their relevance.

The list is intended to be a purely fact-based, unbiased analysis of the fastest-growing tech firms - completely uninfluenced by any sponsors or the interests of individual companies or organisations.

Who are we?

Tussell: https://www.tussell.com/

Tussell is the market’s trusted source of insight into UK public procurement. Our online market intelligence platform helps companies to do more business with government, and public sector bodies to get better value from their procurement.

techUK: https://www.techuk.org/

“techUK is the trade association which brings together people, companies and organisations to realise the positive outcomes of what digital technology can achieve. With nearly 1,000 members (the majority of which are SMEs) across the UK, techUK creates a network for innovation and collaboration across business, government and stakeholders to provide a better future for people, society, the economy and the planet. By providing expertise and insight, techUK supports its members, partners and stakeholders as they prepare the UK for what comes next in a constantly changing world.”

How is the ranking calculated?

The list is calculated by comparing the value of direct transactions between the public sector and suppliers across two government financial years, using published data from more than 900 public sector bodies. This comparison is then used to create a percentage growth figure.

We compared technology supplier earnings between FY 21/22 and FY 22/23.

To be included in the list, suppliers must have been paid at least £100k in FY 21/22. Our analysis is also conducted at a ‘parent level’, meaning that we have endeavoured to group together all legal entities and ultimately owned subsidiaries of larger firms.

We have taken a fairly broad view of what constitutes technology, using a combination of SIC codes (standard industrial classifications of economic activity), and manual checking. The list includes expert advisors, telecoms companies and firms that help to facilitate and support the government tech ecosystem. Each company has been manually checked to ensure it's appropriate for inclusion in the list, but if you have any specific questions about the lists make-up, or the way the list has been calculated, feel free to contact us.

Heather Cover-Kus, Head of Central Government Programme, techUK

"We’re pleased to partner with Tussell again for the third edition of the Tech200 awards. This year’s list helps to highlight some of the most exciting and innovative tech companies solving problems in the UK public sector today. We are also thrilled to see just how many techUK members have made the list -  a staggering 31 in total!"

See which companies made the list, their ranking and their public sector revenue growth here. 

📈  Headline stats

We are delighted to see so many newcomers on the Tech200 this year.

Notably, 27 high-rising companies have appeared in both this year's list and at least one previous iteration of the Tech200. Three companies have managed to earn a place on all three annual Tech200 lists, including Open Medical.

We are also particularly pleased to see that of the 200 companies, 31 of these are techUK members.

Harry Lykostratis, CEO, Founder, & Lead Engineer, Open Medical

"I am very proud of our inclusion in the Tech200 list for the third consecutive year. This recognition is a testament to our dedicated team's relentless efforts, resilience, and commitment to excellence. We constantly strive to learn and innovate, which allows us to continually enhance our services and products. We believe in turning challenges into opportunities and this has been pivotal to our sustained growth. Being among the fastest-growing technology companies in the UK public sector is an honour, but also a reflection of the trust our clients place in us. Thank you to Tussell and TechUK for this acknowledgement."

💡  What key trends can we see?

1. The dominance of IT Consultancy 🖥️

Tech is an industry with a complex network of solutions - as the public sector's demand for digital transformation grows, so does the need for experts, advisors and partners to help guide them along this journey.  With almost one-third of the Tech200 companies this year offering consulting services - including 4 of the top 10 - it is evident that the need for specialism within the age of digital transformation remains.

Change-IT Group, who occupy the #1 position on this year's list, offer a range of services and expertise under the umbrella of IT consultancy. Their public sector offering is specifically tailored to help drive down public sector costs across their software and cloud estates.

2. A continued soar in Healthtech 🏥

The NHS has been under unprecedented pressure in recent years, resulting in the need to bolster workflow and workforce management - *enter*, healthtech. 

Healthtech has provided an array of services to the NHS, from rota systems to diagnostic help, all whilst improving efficiency and using tech innovation to take the strain off doctors and the wider healthcare system. Medefer for example (19th on the Tech200) offer specialised online consultants to help reduce NHS wait times, and Inform Health (25th) provide software solutions in the sexual health space.

We've also seen a rise in technology companies offering products and services to help tackle the mental health crisis. Tellmi (27th) offer support to young people struggling with mental health issues via their app.

The COVID-19 pandemic showed us the way that digitisation can transform the delivery of our care systems in the UK, and since then the trend towards digitisation has only increased. 

3. A small bump for AI 🤖

AI, and the many solutions it promises, gripped the public imagination throughout 2023. The ripples of this in the public sector can be detected in the Tech200.

14 AI companies appear in the list this year (5 more than in 2022). From waste analytics to transport planning, each of these companies offers a unique solution to the various challenges facing the public sector.

6 of the AI companies featured in the 2023 Tech200 offer health-related solutions. Cyted (54) apply AI to support cancer detection diagnostics, and Lenus Health (195) use predictive AI to help with management of chronic illnesses.

However, despite the incremental increase in the number of AI companies in the 2023 Tech200, AI is far from being the most represented sector in the list. IT Consultancy, healthtech, telecoms and data management all rank ahead of AI in this respect.

This is likely because the Tech200's window of analysis captures just the first few months of 2023 - in next year's list, the true extent of the public sector's AI captivation may be significantly more pronounced.

Ian Vernon, COO, AWTG

"AWTG is constantly pushing for innovations that benefit the majority and technological advances for the public sector. The inclusion in this list is a testament to our hard work and dedication to providing innovative solutions to the public sector. We consider every project to be an opportunity to bring advanced technology to the public sector’s diverse audience. From connectivity strategies to apprenticeships and levy matchmaking, we are committed to continuing our efforts and initiatives."

🔮  What's next for the Tech200?

The launch of this year's Tech200 is just the beginning.

We'll be sitting down with the Tech200 very soon to learn their secrets for public sector success. 

Stay up-to-date by signing up for our mailing list and following us on LinkedIn.