United Kingdom

London #2

Integration Phase

London has an established position at the cutting edge of tech. Previously in Fintech, but now also AI and Healthtech. It’s critical we leverage this advantage — attract the best talent and build a supportive ecosystem.

Suranga Chandratillake
Partner at Balderton Capital

Sub-sector Strengths

Edtech

The U.K.’s Edtech sector is expected to reach $4.4 billion by 2021 and current U.K. education exports total $22.8 billion annually. London has more than 500 Edtech companies and ranked #1 in Europe for early-stage funding in Edtech in 2017. A Cloud Guru, a cloud computing training platform, raised $33 million in 2019. Memrise, a language learning platform, raised $15.5 million in 2018.

Fintech

London is the second-largest financial center in the world, produced two Fintech unicorns in 2019, and has a financial sector employing more than one million people. In 2018, the Financial Conduct Authority launched a global Fintech regulatory sandbox after the success of a domestic sandbox that loosened financial regulations. Checkout.com, an online payments platform startup raised $230 million and became a unicorn in May 2019.

Why you should invest in London

TOTAL EARLY STAGE FUNDING
$6 bn
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
$92 bn
GLOBAL AVG.
$10.5 bn
#3 Global Ecosystem
Funding
#4 Global Ecosystem
Talent
8
Exit Growth
INDEX
10
Investor Activity
INDEX
6
Funding Growth
INDEX

Reasons to move your startup to London

MEDIAN SEED ROUND
$650 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$4 m
GLOBAL AVG.
$2.7 m
SOFTWARE ENGINEER SALARY
$66 k
GLOBAL AVG.
$42.1 k

Seed Enterprise Investment Scheme

A vibrant early-stage funding environment has developed thanks to this, which provides investors up to £150,000 of their investment back in income tax relief.

Startup visa

London is the only top 5 ecosystem with a startup visa program which was launched in the spring of 2019.

COVID-19 Policy

The UK Government announced a Job Retention Scheme to pay up to 80% of wages for workers at risk of being laid off due to the pandemic. All employers in the country are eligible to apply to HMRC for payments of up to £2,500 per worker per month under this scheme.

Startup Community

Startup Genome
Partners

Accelerator Network
Balderton Capital
City of London
GEN
GSMA
KPMG
Level39
MassChallenge
Microsoft Ventures
Microsoft for Startups
Northzone
Tech London Advocates
TechUK
Techstars London
Wayra London

Get connected

Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.