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Wednesday 29th May 2024, 2:00 PM (BST)

Number of foreign tech directors increasing, according to survey

The number of foreign business leaders has increased in the UK, according to business research company Duedil.

Their figures show that one in five UK tech companies are now led by foreign entrepreneurs, which indicates that Britain is becoming an attractive location to start up a digital business.

Important role

The research also showed an increase in the number of foreigners founding companies or in leadership positions since 2010, with a 133 per cent rise in foreign directors in the tech sector.

Duedil Chief Executive Damian Kimmelman, a US national himself, stated that this showed that foreign entrepreneurs have “not only played an important role in the UK’s tech ecosystem, but that influence is becoming even more pronounced.”

There was also a steady increase in the number of companies founded by foreigners over the past few years, with 27,395 tech businesses being started in 2014 in the UK compared to 13,644 start-ups in 2010.

Talented pool

Data from research group CB Insights for London & Partners showed an increase in the amount of investment in tech companies, which has contributed to growth in the sector.

Coalition for Digital Economy Executive Director Guy Levin said that the growth of the British tech sector could yet be damaged, particularly if a Brexit occurs.

“UK digital start-ups benefit from being able to scale and trade across a single market of over 500 million consumers, as well as drawing on a talented pool of workers,” he said.

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