Almost a fifth of UK tech companies have a non-UK founder
Tech Nation has revealed that 18 per cent of tech founders based in the UK are non-UK nationals.
According to the start-up incubator’s latest annual visa report, 18 per cent of all UK tech companies are founded by at least one non-UK national.
Tech companies founded by non-UK nationals raised almost 23 per cent of all UK tech venture capital investment (£8bn) in 2021.
Fintech continues to be a dominant talent magnet, with more than 20 per cent of people endorsed by Tech Nation working in the sector.
Read more: Tech Nation sees 28 per cent rise in applications for its Global Talent Visa
Global Talent Visas endorsed by Tech Nation have already accounted for more grants in the first half of 2022 than in the entirety of 2021, with 659 between January and August 2022, up from 619 between January and December 2021.
Tech vacancies have increased on a month-by-month basis over the last year, from 145,000 roles advertised in May 2021 to 181,000 roles as of May 2022.
In part, this boom in hiring is reflective of the growth seen in venture capital investment into UK tech companies in 2021, a 130 per cent increase to just under $41bn (£35.7bn). While 73 per cent of investment into UK tech comes from overseas, up from 71 per cent in 2021.
“The UK’s record level of tech job vacancies demonstrates that the need for outside talent has never been greater,” said Gerard Grech, founding chief executive of Tech Nation. “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.”
Read more: UK fintech leaders unite for first Northern Ireland Fintech Symposium
“Before I got my Global Talent Endorsement and Visa, whenever I thought about the UK, the word that came to mind was possibilities”, said Peace Itimi, head of growth at Hover. “I have been in London for about 14 months now and I wasn’t wrong. So much diversity, so much opportunity, so much possibilities. I’d be here for the long haul.”
Tech Nation has been designated by the Home Office to endorse applications for the Global Talent Visa since 2014, enabling the brightest talent from around the world to work in the UK’s digital technology sector.
Launched in 2020, the Tech Nation Global Talent Visa has now received more than 5,000 applications from 102 countries, with more than 2500 highly talented individuals endorsed.
Read more: UK tech visa programme sees influx of global applicants
