According to recent studies, the United Kingdom has become a tech investment hotspot, leaving competitors in the dust. The sector now contributes £149 billion to the UK economy as a result of technological innovation, and it is expected to increase as Britain has a broader and deeper ecosystem than European competitors. Foreign Policy Analyst Nile Gardiner, who celebrated the news on Twitter, said: “Brexit Britain power ahead of its European competitors.”
According to BrexitFacts4EU.org, UK IT investment is 22% more than that of Germany and France combined.
The group state: “The importance of tech industries cannot be underestimated.
“These mean as much to our economic future as the railways were for the Victorian era, and the arrival of mobile phone technology at the end of the 20th Century.”
The group adds: “Tech covers not just FinTech, but HealthTech, ClimateTech, AgriTech, EducationTech and other such sectors.”
On a global scale, the group state: “The value of start-ups and scale-ups in the UK is worth c.$585bn to the UK economy (up 120 percent against 2017) – and compares favourably to the $291bn of Germany, our next closest European rival.”
In terms of venture capital investment, Britain is also the most powerful country in Europe.
Only the United States and China outperformed the UK in this area, with the UK notably outperforming France, Germany, and, shockingly, India.
The amount invested in venture capital in the United Kingdom has reached £10.99 billion ($14.9 billion), which is nearly equal to the amount invested in France and Germany combined.
Source: msn.com
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