The split was predominantly un-welcomed, with 9 out of 10 tech companies opposing Brexit. Concerns over policy, trade, regulation and funding provoked fear and apprehension, while anxieties over the impact on foreign direct investment were rife. So, how is the UK faring almost 6 months on? As a tech powerhouse, the UK has always been a leader and key player in terms of IT opportunity and success, but does the country have the economic clout, innovation and culture to see it through the rocky road ahead? London’s tech businesses are led by some of the UK’s most entrepreneurial influences, hoping to rise to the post-Brexit challenge, and advocate the capital as a global technology hub with unparalleled investment potential.
Prior to June 23rd 2016, London was undoubtedly the tech start-up capital of Europe. However, since the country’s shock exit, the capital’s power and prestige has been called into question. The UK’s decision to leave the EU left investors in Europe’s leading start-up hub shell-shocked, culminating in real fears that international companies may think twice before investing in the country. Now that the initial shock of the decision to leave is beginning to fade, the focus is directed on managing the fallout and identifying opportunities. And there is an abundance of possibilities; with just under half (40%) of Europe’s tech unicorns – young companies valued at a billion dollars – based in Britain.