Brexit and an insular political climate have conspired to put immigration and nationalism on UK policymakers’ agenda, stoking fear among some citizens and an outlook that often seems parochial and inward looking.
However, a new report from Tech Nation, the UK’s organisation for technology start-ups and scale-ups, finds that nearly one-fifth (18 percent) of all UK tech companies are founded by at least one non-UK national, providing opportunities for everyone.
Tech Nation’s Visa Report 2022 recognises and celebrates the global tech talent that has come to the UK in recent years.
The 18 percent of UK tech companies founded by overseas entrepreneurs are accelerating the growth of the entire tech sector, raising almost 23 percent of all venture capital (VC) investment (£8 billion) in UK tech last year.
More, nearly one-quarter of the 2,500+ individuals endorsed for the Tech Nation Global Talent Visa are founders of their companies, and the majority are high-value employees working to drive the UK’s tech sector forward.
“Almost 40 percent of all Tech Nation Global Talent Visa endorsees are working in non-technical tech roles, and over a quarter of people endorsed for a Tech Nation Global Talent Visa are working in emerging areas of UK tech, such as AI, cybersecurity and data,” explains the organisation.
“FinTech continues to be a dominant talent magnet, with over 20 percent of people endorsed working in this UK strength sector.”
Global tech talent is pouring into the UK, it says. Just as importantly, it is vital for filling a record level of UK tech vacancies – currently estimated at 181,000.
Gerard Grech, Founding CEO of Tech Nation, said: “The UK’s record level of tech job vacancies demonstrates that the need for outside talent has never been greater.
“Even with our buoyant, currently well-funded and diverse ecosystem, the UK cannot afford to be complacent in the UK’s pursuit of international talent.”