British Government Aims to Double Number of 'Unicorn' Companies in UK

07:19 AM EDT, 09/07/2026 (MT Newswires) -- UK Chancellor of the Exchequer John Healey set an ambition to double the number of so-called unicorn companies, or startups with a valuation of more than $1 billion, in the country. In his first speech on the economy as the new chancellor, Healey said ideas born in Britain "too often" have to go elsewhere to find the capital needed to grow. "Together, with [Business Secretary] Johnny Reynolds I will identify the next wave of unicorns, with the state as an early first customer to ensure they have the necessary backing to scale," Healey said. Healey noted that the government will also work with various departments in the coming months to allocate financing to support British innovation.