emfizz.com
emfizz.com November 25, 2017


There's still investment in tech in London - despite the spectre of Brexit

20 April 2017, 09:31 | Anna Nguyen

Map of incubators and accelerators in the UKInnovation foundation Nesta

Map of incubators and accelerators in the UK

At a government-backed conference last week created to trumpet the United Kingdom as a post-Brexit fintech powerhouse, the CEO of Transferwise went off-message, suggesting startups should avoid London and confirming that his own firm will move its European headquarters to the mainland. "More recently, our expertise in Fintech, Artificial Intelligence and Robotics has shown that the city is at the cutting edge of technological innovation", said Russ Shaw, London Tech Week ambassador and Founder of Tech London Advocates.

"London's strength derives from the city's diversity, rich pool of talent and global connections". This, he added, signified "that London remains open to investment, talent and innovation from all over the world". Many in the tech and finance industries forewarned an exodus of talent and money from the capital due to the United Kingdom leaving the EU.

90% of respondents agreed that if banks work together with London's tech community to overcome obstacles and invest in these areas, the capital will have an ecosystem capable of "producing a critical mass of globally successful tech start-ups".

Fintech has attracted the most cash over the last five years, followed by mobile, software and e-commerce.

AI and machine learning attracted £86m in funding last year, rocketing from just £3m five years ago.

Further silencing the Brexit fear-mongers is the performance of the capital in Q1.

Bill Bashes Fox News & 'Unfounded Claims' After Getting Fired
By that time , the news had already generated considerable coverage on Fox's primary cable news competitors, CNN and MSNBC. Bill O'Reilly has blamed his sacking from Fox News on "completely unfounded claims" that have been levelled against him.


Troubled Adrien Broner arrested...again
According to police, Broner told them someone shot at the vehicle after following him from a bar in Cincinnati. Cops say they did find evidence of a shooting at the alleged crime scene including several shell casings.


Banking regulator says it missed opportunities to stop Wells Fargo sales practices
Following the acquisition, the chief executive officer now owns 754,581 shares in the company, valued at $38,974,108.65. Dodge & Cox bought a new position in shares of Wells Fargo & Co during the fourth quarter worth $3,942,119,000.


Startups working in the hot tech space attracted £177m in funding in the first three months of the year, more than any quarter in 2016 and its highest since the second quarter of 2015.

Since the referendum to leave the European Union, London tech firms have received more than £1 billion in funding, over 70 per cent of the total £1.59 billion invested into United Kingdom tech during that period.

"London is the technology capital of Europe".

Another report from tech investment bank GP Bullhound, positions London as the European capital for fintech unicorns, pointing out that the United Kingdom houses four tech behemoths with a combined value of $18.5bn, compared to just two in the rest of Europe, which are worth $4.6bn between them.

The survey of Level39's 900-strong community found that most think a shortage of talent is the biggest threat to banks and financial institutions in the United Kingdom (19%), followed by a lack of investment in research and development (17%) and digital disruption (15%).



Other News

Trending Now

Everybody's Golf, the next Hot Shots Golf game, is releasing August 29
The Japanese press release says that Closed Beta is being held worldwide, but so far New Hot Shots Golf has only been confirmed for Japan.

Vettel triumphs in Bahrain as Hamilton pays penalty
Verstappen was helpless as he watched his auto go straight on at turn 4 and into the barriers at low speed and out of the race. The victory was Vettel's second of the season after the four-times world champion won the opener in Australia.

NBA Playoffs 2017: How to watch Thunder vs
Harden played 81 games this season, missing only one practice, the first one after the All-Star break, and one game with the flu. Expectations were blatantly low for the franchise in the highly competitive and ever-improving Western Conference.

Turkey's PM Binali Yildirim warns opposition against street protests
Erdogan was voted to power in August 2014, the first time a Turkish President had been directly chosen by the popular vote. Opposition parties in Turkey have called foul on the referendum , demanding an annulment.

Officers responding to shooting injured in crash
The shooting may have happened on the expressway, which falls under the jurisdiction of Illinois State Police. Guglielmi said one officer was transported in serious condition and another was taken in good condition.

Quarterly Financial Review of CytRx Corporation (NASDAQ:CYTR)
CytRx Corporation (CYTR ) stock price escalated 18.18% to finalize at $0.52 throughout previous buying and selling session. Inside the closing six months period the stock's performance raised 8.33% while overall yearly performance lost -83.70%.

Anne Hathaway Worried That She Had "Internalized Misogyny" While Filming This Movie
I swear, if anyone near me even so much as whispers the sentence 'Women probably don't want to direct, ' my fist will fly as a reflex action".

Acceleron Pharma (XLRN) Receiving Positive Media Coverage, Analysis Finds
Cap Advsrs Limited Liability Corp holds 271 shares. (NYSE:MMS). 99,600 are owned by California Pub Employees Retirement System. The stock witnessed 0% declines, 13.92% gains and -5.31% declines for the 1-month, 3-month and 6-month period, respectively.

Tax Day Protests Demand Trump Release His Taxes
Every president and presidential nominee for the past 40 years has made their tax returns public, except for President Trump. To date, Trump hasn't publicly released any of his tax returns, even though he said in 2014 that he would.

Authorities: Man killed by deputy disarmed another officer
Highway 61 and Interstate 694 in Vadnais Heights Sunday night when they located an RV and vehicle parked on Fanum Road. Two deputies used their stun guns after a struggle started with the driver, identified as 47-year-old Darren Jahnke.