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UK top location for tech start-ups in spite of Brexit

(Image credit: Image Credit: RikoBest / Shutterstock)

Fears that Brexit will hurt UK's status as the continent's tech capital have not materialised, another report has confirmed. This time released by Atomico (opens in new tab), the report says investors have put $5.4 billion into UK's tech companies this year – more than double than Germany, UK's nearest rival.

When it comes to attracting talent, which was also a huge issue during Brexit days, the UK is attracting 20 per cent of all international migrants in European technology.

The UK was also identified as the leading location for 'deep tech' - machine learning, scientific discoveries and engineering breakthroughs.

Both locals and foreigners see London as the number one hub for technology start-ups, in front of Berlin, Paris, Amsterdam and Dublin.

“The question of whether Europe can produce world-class innovation has been put to bed. The question of whether it can produce a $10bn company has been put to bed. And while Europe is notably absent from the top 10 most valuable companies in the world, the probability that the next industry-defining company could come from Europe has never been higher," said Atomico partner and head of research Tom Wehmeier.

But people still haven’t gotten completely over Brexit. Survey findings in the State of European Tech report of more than 3,500 founders saw that the UK is the least optimistic for the future of European tech.

Image Credit: RikoBest / Shutterstock

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.