LS Legal News Bulletin
The UK: #2 Hub for Startups in the World (and Here's Why)
Wednesday 29th May 2024
🦄 The United Kingdom has held second in The Global Startup Ecosystem Report's ranking of countries with the best startup ecosystems for three consecutive years. Here are the factors driving this success.
Diversity and Scale: As of early 2021, 5.6 million private enterprises were operating in the country. London alone is home to over a million companies, most of which operate in the fintech sector.
💸 A Surge of Investments: In 2021, the UK set a record for venture capital investment, attracting £13 billion. The upward trend continues. The country currently boasts 134 unicorn companies (second only to the US and China in this regard).
Government Support: The UK government is a strong advocate for startup growth and investor attraction. It offers a range of support measures, including the Future Fund, tax incentives for investors, and a significant increase in the number of startup accelerators and incubators to 750 in the past five years. Aspiring entrepreneurs can tap into venture capital funds and government grants from organisations such as Playfair Capital, Accel Partners, Balderton Capital, BGF, Growth Capital, and more.
🤩 Interested in learning more about startup opportunities in the UK? The recording of our webinar (in Russian) with real Innovator Founder visa holders is now available! Comment with "+", and we'll send you the link.
