Those who Estonia Email Address worked for promising startups such as DeepMind, owned by Alphabet, and Eva Technologies, owned by Amazon, found themselves entering big tech via acquisition and being richly rewarded for it. Such has been the allure of London that the U.K.’s Treasury or the economic and finance ministry estimated in 2017. The country’s fintech sector was worth about £7 billion to the economy and employed 60,000 people. Now the picture is different. With Britain voting in 2016 to leave the E.U. There are moves across Europe to dislodge London as the tech center of the continent. Berlin Lisbon Barcelona Paris and other cities are all taking advantage of Brexit uncertainty by snapping up talent. That would have formerly found work in the U.K. France thanks in part to the personal and vocal backing. Its president Emmanuel Macron has made a big play for tech.
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The government, according to the gulf email list Financial Times, has committed €2 billion to funding artificial intelligence AI over the next few years, and in 2017, telecommunications entrepreneur Xavier Neil launched Station F which has been billed as the world’s largest startup incubator in Paris. U.K. government figures show that the number of E.U. workers leaving the U.K. Its highest level since the 2008 financial crisis. Many of them worked in technical roles. The number coming to Britain has dropped too year over year. The reason? In the short term at least Britain mid Brexit doesn’t hold the same allure that it once did in part because of the reduced value of the pound sterling. Business is having to make its peace with a Britain that is apparently losing its appeal to Europeans.
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Consider Entrepreneur First (EF), a startup-building program with an office in London and a simple enough business model: Talented techies go in, companies come out. Reid Hoffman, the founder of LinkedIn, joined the EF board last year as the firm raised fresh funding in a round led by Greylock Partners of Silicon Valley. When EF decided it needed to open up a second office, it chose Singapore. But that was pre-Brexit, when London’s magnetism was still strong. It probably seemed logical to plant a flag in Asia’s biggest tech center as a next step, and EF was doing nicely attracting talent from Europe to its London hub already. Now EF — like everyone else has to work harder to attract talent to its European program. This may be part of the reason it set up shop in Berlin in early 2018.
