Two-thirds of successful pitches are from co-founded startups, VC data reveals

A new report from one of the UK’s most prolific VC firms, Fuel Ventures, has revealed fresh insights into the thousands of startup pitches they receive each year after ten years in business.

Now averaging around 6,000 incoming pitches a year—equivalent to one every 88 minutes—Fuel Ventures has taken a deep dive into a decade’s worth of data to share what these pitches say about the current state of entrepreneurship.

Looking at leadership, the report revealed that two-thirds (76%) of successful pitches have come from startups with co-founders at the helm, rather than a single founder.

Since Fuel Ventures was founded back in 2014, the number of female founders submitting pitches has risen by 45%, with a significant 30% increase in the past five years alone.

While London remains the most popular location for UK startups, other cities are rapidly closing the gap. Over the past decade, cities such as Birmingham (up 120%) and Manchester (up 95%) have seen significant increases in the number of founders launching businesses outside the capital, suggesting a welcome decentralisation of the UK startup scene.

The data also challenges long-held assumptions about the age of founders. Pitches from entrepreneurs aged over 40 have increased by 35%, signalling a growing trend toward experienced founders leveraging their industry knowledge to build new ventures.

Unsurprisingly, certain buzzwords emerged time and again, within pitch decks in the last year with “AI,” which came out on top as 86% of pitches included the word. Following behind were “disruption” (61%), “scale” (52%), “sustainability” (45%) and “pivot” (32%). In the past year alone, Fuel Ventures’ team noted a 20% rise in pitch decks mentioning AI without actually having any AI capability.

Fuel’s data reveals that certain times of the year are busier than others for pitching, with January and September (up 9%, 10% respectively) seeing a spike in submissions. Interestingly, the timing of a pitch may also influence its success: decks submitted on Tuesdays were found to be 18% more likely to lead to a follow-up than those sent on Fridays.

Among thousands of submissions, Fuel found that the shortest pitch received consisted of just three slides, while the longest stretched to a sprawling 127 slides, neither, notably, secured investment.

Beyond providing a glimpse into the types of businesses emerging each year, the data offers a broader snapshot of the UK’s thriving startup ecosystem. As an active investor, Fuel Ventures’ insights reveal not just who is founding companies, but how the entrepreneurial landscape itself is evolving.

Mark Pearson, founder of Fuel Ventures, said, “Every pitch deck tells a story, some better than others.

“We’re fortunate to have a front-row seat to the ambition, creativity, and resilience amongst the next generation of entrepreneurs – it’s something that really doesn’t get old. Sorting through thousands of ideas every year isn’t easy, but it’s the key to finding those rare businesses that change industries or even create new ones.

“One thing we’ve definitely learned: the team seems much sharper on a Tuesday than on a Friday afternoon. By then, I suspect their minds are already halfway to the pub!”