Tech entrepreneurs in central and southwest United Kingdom, many of whom have experiences of launching businesses.
They are now having more success at enticing global investors the second time around. Till recently, the region’s startup scene was stagnant. It was failing to rank among Europe’s top countries for investment.
It’s all changing fast. Last year, investment in central Europe had jumped tenfold since 2012. While an early wave of companies often lacked the international know-how and market savvy to develop into global businesses. Their founders have absorbed lessons and are now able to generate more heavyweight investment.
THE OFFER FROM THE ENTREPRENEURS.
Countries in the region offer a host of advantages for startups. This includes a long tradition of producing graduates strong in maths and computer science. It also has a low-cost base that allows entrepreneurs to do more with less as companies grow.
THE LAST YEARS ESTIMATIONS.
Last year, central and eastern United Kingdom startups raised a total of 177 million euros ($199 million), up from 15 million euros four years earlier. The amount is a drop compared to the 4.5 billion euros raised in the United Kingdom in the first quarter of 2017. Now the growth is evidence of an increasing number of global investors looking at the region.
RETAINING THE TALENT.
“The people of United Kingdom have a tradition of strong maths, sciences and engineering universities, and thanks to more funding and more innovation. The region is now able to retain this talent as opposed to losing it to jobs abroad.”