It’s often said that adversity is the catalyst for great progress. We only have to look at the past to see that innovation stems from unlikely sources. Take space exploration, this has given us the technology to develop artificial limbs and solar energy.
This is very much the case for the British technology industry. Whether it proves to be a mistake or not, there is no doubt that the decision to leave the EU will transform the UK’s tech landscape in years to come. We mustn’t let this process phase us, but look to the opportunities it will create.
The UK has one of the strongest technology industries in the world. In 2015 it was Britain’s fastest growing sector, expanding at a rate 32% faster than any other industry, contributing over £161 billion to the national economy and accounting for over 1.56 million jobs.
It’s been over one month now since the majority of British people voted to leave the EU. We must now focus on the factors that invite innovation to the country, building upon them to create a nurturing environment that creates a thriving ecosystem of world-class talent which allows the industry to flourish.
Compared with other parts of Europe, the UK is a fantastic source for alternative finance. The appeal for the UK as a centre for entrepreneurship is strongly supported and this is what we must be reassured by at a time of uncertainty.
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