A new report by Tech Nation has listed the UK as the European hotspot for technology start-ups, and fourth worldwide for scale-up investment after the US, China and India.
Tech Nation recently revealed that the UK’s fintech hub has attracted more than £4.5 billion in investment in the past three years.
Moreover, between December 2018 and February this year, scale-up firms in London grew by more than 56 per cent, this is more than anywhere else in the world.
Tech Nation Chair, Eileen Burbidge said: “The UK has an incredibly pivotal role in the global tech scene.
“Nowhere is this more evident than in the fintech sector where the UK is ranked number one in Europe, an enviable position that has been established with decades of hard work, entrepreneurial talent, innovation and supportive policymakers.
“I’m confident that we have all the ingredients needed for continued success and even greater acceleration of the tech sector here in the UK.”
Last year, total venture capital investment in the UK tech sector reached £6 billion, which is more than any other European country.
Prime Minister, Theresa May said the UK is a “global tech powerhouse”, adding that the companies are “delivering significant economic value to the nation through the investment they raise, the jobs they create, and the innovative products and services they deliver.”