BLOG: Brexit; a left hook for Londons Startup Scene.

1 juli 2016

 

23d of june will be Englands black page as it comes to public descision making. Remain, or leave, they said about their EU membership. Emotions and old people unfortunately won, because 51% of Brits went for it. Not enough national decision-making and too much controle from Brussels apparently.

There sure are lessons to be learned on our side of the pond. But we won’t actually see and feel that after quite a while, when #brexit is over and done with.

Now, what will be the influence on London as the techhub of the EU? Will Dublin become more important? How does this impact other startup hubs like Amsterdam, Berlin and others. What opportunities will there be on our side?

What we do know is this. Many British startup funds receive cash from the European Investment Fund, and brexit destroyed this cashflow from Europe, same goes for the European market. Brit startup Sup “A radar for friends nearby” lost an investment of 130.000 euro, to just name one example. It makes us wonder how easy it will be for European startups to get access to Britsh funding.

Many Tech companies have an HQ in London. That won’t change anytime soon, but still, we’re eager to know what the giants think of it and how it influences their business.

So, what do you think? Will the startup ecosystem get permanent damage because of the brexit? Or do you think i twill fade away in ze future..?

Rest asure, we will keep tabs on upcomming developments and we will focus on a European centered positioning of SPARKCITY.