A new report has shown that investment into UK tech companies from Silicon Valley has increased to over £2.2 billion since 2011.
Representing a 252 per cent increase, the UK is experiencing a surge in interest in companies operating in the software, life sciences, hardware and MedTech sectors.
The report says that 79 per cent of all US investment into UK firms goes to those based in London, Oxford and Cambridge – also known as Britain’s ‘Golden Triangle’.
But it’s not just Silicon Valley that has taken a keen interest in the UK. Firms on the US East Coast invested some £1.31 billion into UK companies in 2017, while the total number of deals rose by 48 per cent from 29 to 56 between 2011 and 2017.
Around 83 per cent of British firms say greater access to US markets has improved the scope for overseas investment, while 46 per cent say they would go to the US to find investment because of the expertise they have over there. A further 44 per cent cited the US as having a favourable investment climate, while 48 per cent said they had existing relationships with US investors.
In total, the report shows an increase of 62 per cent in foreign investment into UK firms in 2017 – two-thirds of which were completed by investors outside of the US, resulting in around £5.9 billion of deals (representing a 187 per cent year on year rise).
Latest posts by Maung Aye (see all)
- Formula One could be forced to change its new logo amid trade mark dispute - August 15, 2018
- Data misuse “top threat” faced by SMEs, study finds - August 6, 2018
- Scottish vlogger caught up in copyright row with BBC - August 2, 2018