IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

London is the "undisputed" tech capital of Europe, says Sadiq Khan

Research reveals UK's diverse hub of tech firms are attracting the most investment within the EU

London has been hailed as the "undisputed" tech capital of Europe by its Mayor Sadiq Khan, following a report released by London & Partners.

According to the figures, the capital's tech firms are contributing to the growth of the UK's digital economy, accounting for over 80% of all venture capital money invested into the UK since Brexit.

"London is the undisputed tech capital of Europe and today's figures offer further proof that London remains a leading global tech hub for investors. With world-class universities and a diverse international talent pool, London is a centre for creative energy and innovation," said Mr Khan.

"London's tech sector is an important source of jobs and growth for the city's economy and it is vital that we continue to ensure that we can attract the very best talent and investment from all over the world in the aftermath of Brexit."

The research revealed that London's high concentration of tech companies has helped it remain Europe's number one destination city for venture capital funding, with its tech firms attracting over 4 billion of investment, ahead of the 1.14 billion for Paris, 814 million for Berlin and 542 million for Stockholm.

Next week London will showcase the very best of its tech offering by opening its doors to the international business community for London Tech Week 2018, Europe's largest festival of technology and innovation. The city will host over 200 events and welcome over 50,000 entrepreneurs, investors and tech leaders from all over the world.

Sherry Coutu CBE, London Tech Week ambassador and angel investor added that it was no surprise to see that London and the UK are the leading destinations for international tech investors because of its diverse mix of innovative startups.

"From Artificial Intelligence to cybersecurity, EdTech and GovTech, the UK is home to companies that are leading the way in developing and implementing the latest cutting-edge technologies," she said.

"This year's London Tech Week will shine a spotlight on London's mix of thriving start-up and scale-up businesses and a whole range of innovations. It's a fantastic opportunity for London to showcase itself to global investors, entrepreneurs and tech leaders from across the world."

Further analysis of the findings showed that UK remained the leading European hub for US tech investors since the Brexit vote, with German and French tech companies receiving less than half the amount of funding seen in the UK.

Picture: Shutterstock

Featured Resources

Four strategies for building a hybrid workplace that works

All indications are that the future of work is hybrid, if it's not here already

Free webinar

The digital marketer’s guide to contextual insights and trends

How to use contextual intelligence to uncover new insights and inform strategies

Free Download

Ransomware and Microsoft 365 for business

What you need to know about reducing ransomware risk

Free Download

Building a modern strategy for analytics and machine learning success

Turning into business value

Free Download

Most Popular

Windows Server admins say latest Patch Tuesday broke authentication policies
Server & storage

Windows Server admins say latest Patch Tuesday broke authentication policies

12 May 2022
Russian hackers declare war on 10 countries after failed Eurovision DDoS attack
hacking

Russian hackers declare war on 10 countries after failed Eurovision DDoS attack

16 May 2022
IT admin deletes company’s databases and is jailed for seven years
Policy & legislation

IT admin deletes company’s databases and is jailed for seven years

16 May 2022