“Tech firms cluster in Edinburgh, Oxford and Belfast, as well as in London”
At the turn of the century, the UK technology sector was seen as a relative backwater, especially compared with the major tech centres in the United States. However, over the past two decades there have been “significant changes on both the development side and [to the] start-up landscape”, says Jeremy Leonard, co-founder and CEO of digital consultancy LEAD.
Thanks to some prominent success stories, one of the best university systems in the world and various tax breaks, there has never been a better time to set up a technology company in Britain.
What’s more, the recent fall in valuations may make technology stocks seem a risky proposition, but they still offer long-term value, while lower share prices and a weaker pound have also made many companies an attractive target for private-equity firms and large competitors.
Reaching the tipping point
Taavet Hinrikus, co-founder of Wise (previously known as TransferWise), has seen first-hand how the UK technology sector has boomed over the past 20 years. When he first moved to London in 2004 as Skype’s director of strategy to
