As a member of the trade mission to the US this week London Mayor Boris Johnson announced that US investors invested $796.2m into the London technology sector in 2014.The record figures were unveiled in New York at an event hosted by London & Partners in collaboration with Tech City UK and the Technology is GREAT campaign.
London is already acknowledged as the digital capital of Europe with its growing tech sector attracting venture capital funding of $1.4bn in 2014, half of which originated from the US. The UK has worked hard in creating a favourable environment for the technology sector by incentivising innovation and creativity and by encouraging the development and retention of talent and skills in the workforce.
However, London is also recognised as the global leader in FinTech innovation.
FinTech is the term given to a fast-growing sector which includes businesses involved in simplifying payment processes, ways of money saving, the promotion of financial planning and fraud reduction.
A number of UK start up FinTech businesses have joined the Mayor on his trip to generate further interest in this growing sector from US investors.
London continues to be an attractive proposition to overseas investors and 2015 looks to be a promising year for inward investment. As commercial partners to London & Partners, the inward investment team at Alliotts are working with an increasing number of businesses and individuals who are looking to invest in the UK.