This, however, is the only bright spot among the pervading gloom of the technology sector.

Research by Growth Company Investor, shows share prices in the electronics, hardware, health care equipment and mobile telecoms sectors dropped by an average of 32 per cent.

The depressed public markets are certainly a factor in this slump. In the past 12 months, only 12 technology companies have joined the junior market, raising £163 million, compared to 50 for the equivalent period a year earlier, generating £362 million.

In total, there are over 300 technology ventures on the junior market, collectively worth £9.3 billion. Thirty-eight per cent of these companies are valued at less than £10 million.

The largest technology company is US-based wind turbine manufacturer Clipper Windpower with a market capitalisation of £789 million, followed by another green energy venture, ReneSola (£751 million).

In terms of the leading brokers, KBC Peel Hunt has the highest number of technology clients (22), followed by Seymour Pierce (19) and Arbuthnot (16).

Interestingly, while Brewin Dolphin has 14 clients it has the highest average share price performance of 146.7 per cent.