Post-Brexit, US execs still favour London as European tech hub
A survey has found US tech chiefs still prefer London to its European peers, citing human talent, language and easy access to finance.
Amid all the speculation about Brexit and the status of London as Europe’s tech and finance capital, a survey carried out by London & Partners of 200 US tech executives show the UK capital still leads Europe as the place for US tech and finance companies to set up operations.
The survey found that more executives in the technology sphere favoured London over other contenders including Berlin, Paris and Dublin. More than half of those surveyed, 57%, also rated London as Europe’s top financial services destination ahead of Frankfurt, Zurich and Amsterdam.
Respondents cited London’s ease of doing business, human talent pool, lack of a language barrier and access to finance as factors in their choice. US investment into London remains strong, with $4.4bn of US venture capital funds invested in London tech companies over the past five years, surpassing the amounts received by rival tech hubs Dublin, Stockholm and Berlin.
London & Partners also reported that London received more investment than any other major European tech hub since June 2016, saying: “London’s tech companies attracting $425m across 33 deals since the Brexit vote – that’s more than Dublin, Paris and Amsterdam combined”.
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