Huge increase in VC capital in UK tech sector
Posted on 11th June 2018
Hot on the heels of the Markit survey results for May comes the report in the press today that the UK’s tech businesses are attracting more foreign investment than France and Germany combined.
As this report in today’s Telegraph explains, “British tech businesses attracted $7.8bn (£5.8bn) of funding last year, which was almost double the amount received in 2016. Research by Dealroom and Tech Nation showed that the UK’s venture capital investment last year was higher than Germany’s total of $3.2bn and France, which brought in $2.8bn.”
This continues a sequence of positive reporting over the last year, from a wide variety of sources, all showing the dominance of the UK in digital business.
This is obviously one (but not the only one) of the reasons why hiring in the tech sector is going through the roof, as evidenced by the recent Markit reports. As we move into a critical week for Brexit, it’s worth bearing in mind that as other sectors consider their options in the UK, the digital/tech sector is still a major attraction in this country. It’s something the governments north and south of the border need to capitalise upon in order to create the next tranche of unicorns and other amazingly successful businesses. We are doing well in the UK and we need to keep our foot on the accelerator.
Nikola Kelly, MD, Be-IT
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