Britain remains top European hub for tech investors: study


LONDON (Reuters) – Britain stays the main European vacation spot for worldwide tech traders, with UK tech corporations attracting virtually 3 times extra enterprise capital funding than every other European nation over the previous two years, in accordance with a research on Friday.

FILE PHOTO: The brand of Google is pictured throughout the Viva Tech start-up and expertise summit in Paris, France, Might 25, 2018. REUTERS/Charles Platiau

London tech companies are contributing to the expansion of the nation’s digital financial system, accounting for over 80 p.c of all enterprise capital cash invested into the UK for the reason that 2016 EU referendum vote, it added.

Because the determination to depart the EU, in accordance with figures from London & Companions, British tech corporations have acquired over 5 billion kilos in enterprise capital funding – greater than France (1.55 billion kilos), Germany (2.15 billion) and Sweden (644 mln) mixed.

Main US corporations together with, Fb and Google have elevated their operations in Britain for the reason that referendum.

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London & Companions is the Mayor of London Sadiq Khan’s official promotional company.

It mentioned international tech traders are drawn to London for its strengths in growing the newest cutting-edge applied sciences, with the UK capital topping the European funding charts for funding into quick rising sectors corresponding to Synthetic Intelligence, cyber safety and Fintech.

“London’s tech sector is a vital supply of jobs and development for the town’s financial system and it’s important that we proceed to make sure that we are able to entice the perfect expertise and funding from everywhere in the world within the aftermath of Brexit,” mentioned Mayor Khan.

Subsequent week is London Tech Week 2018 wherein the town will host over 200 occasions and welcome over 50,000 entrepreneurs, traders and tech leaders.

Reporting by Stephen Addison, Enhancing by Paul Sandle

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