Hundreds of high-tech jobs have been created because of overseas investment into the UK’s FinTech, information technology and advanced engineering sectors, according to a statement from the government.
The Department for International Trade reports that 11 separate foreign investments are expected to create 359 jobs across the UK – in London, Leeds, Newcastle and Reading.
Nearly half of Europe’s FinTech ‘unicorns’ (privately held start-up companies valued at over £778,285,219 ($1billion) are based in London, with app-only bank, Monzo, the latest company to join the list at the end of October.
“It’s easy to see why the UK is Europe’s top destination for foreign direct investment,” says International Trade Secretary, Liam Fox. “Our country is home to world leading research and development capability, as well as a culture of innovation.
“My international economic department has a network of Trade Commissioners operating across the world, seeking investment opportunities that will help create jobs and improve the lives of people in the UK.”
Total venture capital investment in UK tech companies since 2016 has surpassed £5billion, and was more than Germany, Spain, France and Ireland combined last year.
Copyright – Executive Grapevine