As London’s Tech Week draws to a close, Russ Shaw of Tech London Advocates says that come what may, investment in the UK’s thriving tech industry will continue.
Writing for startups.co.uk, Shaw says: “It’s no secret that London’s tech and digital industry has attracted record levels of capital in recent years.
“This investment has powered growth in sector, driving progress and ultimately allowing sector-wide celebrations, like London Tech Week, to take place.
“So – how does the future look for London’s tech investment ecosystem? In short, very bright.”
He says that despite Brexit and political uncertainty, investment in the capital’s tech businesses will continue. According to the Tech Nation 2017* report by Tech City UK, in 2016 tech accounted for 72 per cent of venture capital and equity funding in the UK, or £9.2 billon. This trend, Shaw says, is set to continue in 2017.
The UK is also home to more tech unicorns (startups valued at over $1 billion) than any other countries in Europe, with firms attracting capital from across the globe “in their quest to scale into the tech titans of tomorrow”.
“The future looks promising for London and UK tech investment.
“Providing that we continue to take the same optimistic yet pragmatic approach that has precipitated the sector’s growth, there is no reason to anticipate a slowdown in the industry’s ability to attract investment for the rest of 2017 and beyond,” Shaw concludes.
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