Home Personal Finance London appears to be like to strengthen tech commerce and funding hyperlinks with US as Mayor Sadiq Khan visits Silicon Valley

London appears to be like to strengthen tech commerce and funding hyperlinks with US as Mayor Sadiq Khan visits Silicon Valley

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London appears to be like to strengthen tech commerce and funding hyperlinks with US as Mayor Sadiq Khan visits Silicon Valley

Tech commerce and funding between London and america continues to develop from strength-to-strength, with recent overseas direct funding knowledge displaying that London is the “primary vacation spot globally” for US tech firms seeking to develop exterior of their residence market.

The analysis has been launched to coincide with the Mayor of London’s commerce mission to the US the place he’ll meet with senior tech bosses, traders and entrepreneurs from the Bay Space to advertise even stronger tech hyperlinks between the 2 areas.

US tech firms proceed to see London as their most well-liked vacation spot for worldwide enlargement, with analysis from London & Companions displaying that within the final 5 years London has attracted extra new tech funding initiatives from the US than some other international metropolis.

Between 2017 and 2021, London attracted 251 new tech funding initiatives from the US, creating nearly 9,000 new jobs; greater than tech hubs resembling Singapore (154 tech initiatives), Bangalore (121 tech initiatives), Dublin (121 tech initiatives) and Paris (115 tech initiatives).

Over the previous few years, various main US tech firms have made long run commitments to London with the likes of Fb, Google, Apple, Netflix, Amazon, Microsoft, LinkedIn, Snap and Stripe all rising their workforce and increasing their workplace house within the UK capital.

The Mayor of London Sadiq Khan shall be assembly with tech traders and entrepreneurs in Silicon Valley and San Francisco to safe extra commerce and funding offers for the UK capital.

The Mayor will go to the Silicon Valley headquarters of Plug and Play, the world’s largest early-stage investor and a worldwide innovation platform, who’ve introduced that they are going to be establishing their first UK operations in each London and Warwickshire.

Via partnerships with main UK manufacturers, together with founding companions Jaguar Land Rover and BT Group, Plug and Play will construct and run innovation programmes rooted in collaboration between corporates and startups. Plug and Play additionally goals to make as much as 30 investments per yr into UK early-stage start-ups.

The Mayor of London, Sadiq Khan stated: “I’m delighted to be in Silicon Valley as we speak to bang the drum for much more funding in London by American tech firms. London is already the primary vacation spot for American tech firms to develop, displaying we’re an unrivalled vacation spot in Europe for US companies to speculate.

“It’s nice information that much more main US tech firms have unveiled plans to put money into and create new jobs in London, and I encourage companies from throughout the sector and past to set their sights on London.”

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