Recent reports have shown that Britain has become a hub for tech investment, which according to one source is leaving rivals trailing. As a result of Tech innovation, the sector is already contributing 149bn to the UK economy and is set to grow as Britain has a broader and deeper ecosystem than European rivals.<\/p>\n
Taking to Twitter to celebrate the news, Foreign Policy Analyst Nile Gardiner said: Brexit Britain power ahead of its European competitors.<\/p>\n
According toBrexitFacts4EU.org, tech investment in the UK is 22 percent larger than Germany and France put together.<\/p>\n
The group state: The importance of tech industries cannot be underestimated.<\/p>\n
These mean as much to our economic future as the railways were for the Victorian era, and the arrival of mobile phone technology at the end of the 20th Century.<\/p>\n
The group adds: Tech covers not just FinTech, but HealthTech, ClimateTech, AgriTech, EducationTech and other such sectors.<\/p>\n
On a global scale, the group state: The value of start-ups and scale-ups in the UK is worth c.$585bn to the UK economy (up 120 percent against 2017) and compares favourably to the $291bn of Germany, our next closest European rival.<\/p>\n
Britain is also the leading power in Europe when it comes to venture capital investment.<\/p>\n
Only the US and China beat the UK in the sector, with Britain most notably ahead of France and Germany, and surprisingly, India.<\/p>\n
With venture capital investment in Britain reaching 10.99bn ($14.9bn), the sum is almost the same as France and German investment combined.<\/p>\n
READ MORE:EU bullies making Britain look weak, we can't be taken advantage of<\/p>\n
Mr Philips said: Its been another record-breaking year for UK tech with innovative British start-ups helping solve some of the worlds biggest challenges.<\/p>\n
The 29.4bn raised by UK startups and scale-ups was double the figure raised in Germany and almost three times that raised by French companies.<\/p>\n
UK tech investment accounted for a third of the total 89.5 billion that flowed into the European tech ecosystem this year.<\/p>\n
Capitalising on this fantastic investment across the country is a crucial part of our mission to level up, so we are supporting businesses with pro-innovation policies and helping people to get the skills they need to thrive in this dynamic industry.<\/p>\n
Since Brexit, the UK has had the freedom to pursue its own trade deals.<\/p>\n
So far, it has signed trade deals and agreements in principle with 69 countries and one with the EU.<\/p>\n
Britain and India last week concluded their first day of talks about a potential free trade deal in New Delhi.<\/p>\n
The aim is to have an agreement signed by the end of the year that could boost trade by billions of pounds.<\/p>\n
Indian trade minister Piyush Goyal and his UK counterpart Anne-Marie Trevelyan said there could be a limited agreement in the next few months.<\/p>\n
The UK has made a post-Brexit deal with India one of its priorities as it looks to tap into fast-growing economies.<\/p>\n
Ms Trevelyan said: \"This is an opportunity that we must seize to steer our partnership along the track of mutual prosperity for the decades to come.<\/p>\n
Britain said the deal could almost double British exports to India, and boost total trade between the countries by 28bn per year by 2035.<\/p>\n
Total trade in 2019 was worth 23bn.<\/p>\n
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Original post:<\/p>\n
Brexit Britain powers ahead of its EU competitors UK hailed after major success - Daily Express<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Recent reports have shown that Britain has become a hub for tech investment, which according to one source is leaving rivals trailing. As a result of Tech innovation, the sector is already contributing 149bn to the UK economy and is set to grow as Britain has a broader and deeper ecosystem than European rivals. Continue reading