UK home to over a third of Europe’s billion-dollar startups
08 Nov 2018
The UK continues to lead the way in European funding for tech firms, both in terms of startups attracting investment and UK based investors fuelling the influx of new talent.
With a total of €830 million (£725 million) injected into early stage companies in the last three years, the UK’s fintech startups made up the continent’s top performing sector. Germany was the next largest market, scoring less than half of that amount to bring in €402m over the same period, according to the findings by Stripe, Tech.eu, and Techstars.
The UK’s most up and coming tech sector, artificial intelligence (AI), also featured strongly on the list, with the findings showing that UK houses double the number of AI companies than France and Germany combined.
London leads the way as the top European city for tech activity, hosting more tech events than Paris, Berlin, Dublin and Amsterdam put together.
“The UK is a haven for tech investment, with stellar investors helping to spread success across the country and bringing new jobs, wealth and improvements in productivity,” said minister for digital Margot James.
“As we forge a new future outside the EU, we are determined to remain at the forefront of the continent’s technology sector and become the best place in the world to start and grow a digital business.”
Eileen Burbidge, founder of venture capital firm Passion Capital, added: “These figures show that the UK will continue to have a strong ongoing relationship with companies in multiple tech hubs on the continent and worldwide.”
Beavis Morgan – specialist advisers to the tech sector
Whilst we don’t yet know what the economic landscape will look like post Brexit, we do believe that London will continue to stand out as one of the world’s leading technology hubs.
Being centrally located within walking distance of London’s “silicon roundabout”, our business experts at Beavis Morgan specialise in working with entrepreneurial people in the tech sector, helping them set up and run their own businesses and guiding them through each stage of the process, whilst navigating the challenges and advising them in making the right decisions both now and for the future.
Whether you are a local or international investor, we are also able to review potential business targets on your behalf, as well as undertake due diligence, deal structuring, advise on efficient tax planning, and provide a comprehensive range of professional services to help you make the most of your investment.