There has been a sharp spike in funding for the UK’s tech start-ups, despite the concern surrounding Brexit, which analysts believe is a reflection of the high quality of the individual investment opportunities in the UK’s tech ecosystem.
Recent figures show there was an increase of 43 per cent in Venture Capital Investments in UK start-ups between January and July 2018 and the same period in 2019, from $4.7 billion (£3.8 billion) to $6.7 billion (£5.4 billion) respectively.
In fact, since 2013, UK start-ups have raised more from US and Asian investors than most of Europe combined, which is likely to be why Brexit uncertainty is not affecting investment.
In separate news, London-based tech businesses dominate LinkedIn’s UK list of the top tech firms, taking nine of the ten top spots and 22 of the total 25 places, and confirming the capital’s status as a thriving business hub.
The ranking is calculated by taking into account the millions of actions undertaken on the site globally, including job searches and company page views. It also reveals the startups where UK professionals most want to work.
As a spokeswoman for LinkedIn commented, the list shows just how much the digital transformation seen in the last decade is impacting every aspect of modern life, from health and sports to banking, and inspiring the UK workforce to engage with emerging societal trends.
She added that it is, therefore, no surprise that this kind of forward-thinking innovation is inspiring LinkedIn networks and attracting so many members to join these start-ups.