Castore, Blockchain.com and Tropic Skincare have been identified as some of the best UK companies created by entrepreneurs under the age of 35.
Hurun, the research institution, highlighted close to 190 young British entrepreneurs operating in industries from health to fintech to retail.
It emphasises that while a swathe of large PLCs continues to move listings to the US, there is still a horde of young untapped potential within Britain.
Rupert Hoogewerf, chief researcher of the Hurun report, said: “Our research shows Britain’s entrepreneurial spirit is alive and well.
“Many of these young business leaders have managed to quickly build successful companies despite a difficult geo-political environment, persistent inflation, and the many other headwinds our economies have experienced in recent years.”
Castore
One leading example includes Phil and Tom Beahon, who set up Castore, the premium sportswear label in 2015, when they were 22 and 25 years old, respectively.
After a round of fundraising in late 2023, the company was valued at around £1 billion.
Receiving investment from sports star Andy Murray, the brand has embedded itself within the sports industry, featuring as a sponsor for teams like Aston Villa FC, Newcastle United and McClaren F1.
Blockchain.com
Blockchain.com, the cryptocurrency wallet, was found to be the most valuable company created by an under 35.
In a Series E round of fundraising in November 2023, the company was valued at around US$7 billion, although it marked a steep decline from its US$14 billion valuation in March 2022.
32-year-old Peter Smith is the group’s co-founder and CEO and is regarded as a key member of the crypto community.
Last week, he revealed in an interview that he believed the market cap for cryptocurrencies would overtake gold within the next five years.
Tropic Skincare
Created by former Apprentice runner-up Susie Ma when she was only 15, the healthcare brand received investment from Alan Sugar despite Ma not winning.
Sugar paid £200,00 back in 2011 for 50% of the company, before selling his stake in April 2023.
Ma’s company was reported to be turning over more than £90 million in 2021, bringing in pre-tax profits of more than £10 million.
Other top companies created by young entrepreneurs include:
- AU Vodka
- LADBible
- iCare24
- Lounge underwear
- Cleo