Technology talent heads to Britain
Britain is Europe’s most popular destination for immigrants with technology skills while London is the top city for technology talent within Europe, according to new figures Dominic Lipinski/PA
The UK remained Europe’s top destination for technology investment and talent this year, despite evidence of pessimism among some British founders over the impact of Brexit.
So far in 2017, UK technology businesses have attracted $5.4 billion in investment, compared with $2.5 billion for those in Germany and $2.1 billion in France, according to data compiled by Atomico, a venture capital firm.
Britain was also Europe’s most popular destination for immigrants with technology skills such as programming. London was the top city for technology talent within Europe, as well as for those entering the industry from outside the region.
Technology is one of the fastest-growing sectors in Britain and has been made a priority by Theresa May’s government, especially as the country prepares for life outside the European Union. There are said to be more than 1.6 million digital technology jobs in the UK.
However, British technology company founders were more pessimistic than rivals in other leading European markets. Atomico said that 18 per cent of UK founders were less optimistic about the future of their industry than they were a year ago.
Tom Wehmeier, head of research at Atomico, said: “There’s a clear divergence between the reality and what the perception is on the ground. We’ve seen a number of investment rounds this year running into the hundreds of millions of pounds for Britain’s leading companies, and it’s still the No 1 destination for talent.”
There are 303,000 professional developers in London alone. However, technology jobs in the UK grew at 3.2 per cent in 2017, only the seventh fastest rate in Europe.