Mind the Tech London 2024London Deputy Mayor: "We continue to grow as a global tech center"
Mind the Tech London 2024
London Deputy Mayor: "We continue to grow as a global tech center"
Howard Dawber, London's Deputy Mayor for Business, noted at Calcalist and Bank Leumi's Mind The Tech London conference that London is the leading destination in Europe for foreign direct investment, and second in the world. Foreign direct investment in London rose by 20% last year, making it Europe's best performing region for investment
Howard Dawber.
(Credit: Alex Kolomoysky)
The British capital continues to establish its position as one of the leading tech centers in the world, despite the challenges it has faced in the last decade, according to Howard Dawber, Deputy Mayor of London for Business, speaking at Calcalist and Bank Leumi’s Mind the Tech London conference. Dawber, who also serves as Chairman of London & Partners, London's official business and tourism agency, presented an optimistic picture of the city. He noted that despite challenges of recent years, London is in an excellent position for continued accelerated growth, so much so that economists call it "the invincible city."
"London is the leading destination in Europe for foreign direct investment, and ranks second in the world. EY's foreign investment attraction survey confirms that foreign direct investment in London increased by 20% last year, making it the best performing region in Europe in terms of investment.”
According to him, "London's strong digital technology and financial services sectors are driving this growth. Last year, startups in London collectively raised over $12.9 billion, marking a return to pre-pandemic levels after a slowdown in venture capital. Now, the city is home to 104 unicorn companies, with five of them joining the list in the past year."
Dawber described London as an ideal place for business development in the tech industry. He noted the accessibility of talent, funding, clients and networks all in one place. In addition, the city is a center for creativity, diversity and innovation, allowing new ideas to flourish.
He concluded by calling on investors and entrepreneurs to explore the opportunities that London offers, emphasizing that the next five years will be driven by growth. He invited the audience to share their experiences and challenges in London, with the aim of improving and strengthening the city's position as a world capital in tech.
Watch his full speech in the video above.
First published: 13:05, 19.09.24
