1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 9 strengths supporting economic growth amount of PE and VC investment into The UK government launched The FCA is harnessing 昀椀ntech to The UK is the largest tech ecosystem in Europe 昀椀ntech last year (£61bn). The number ambitious plans to regulate improve regulatory processes cryptocurrency and incorporate of 昀椀ntech investment deals globally and giving UK FS companies a Investment in 昀椀ntech, £bn crypto and distributed peaked in 2021 with 4,355 across competitive edge. our GFCs. There were around 1,000 ledger technology (DLT) into London New York City Singapore Frankfurt Paris Hong Kong Tokyo The FCA is working with the Bank of fewer deals in 2022: the US recorded capital markets. England to reduce the cost of data £80bn most of these (2,142) and the UK was Properly regulated crypto assets collection for FS 昀椀rms. The regulators second with 587. could enhance payments and money Source are harmonising data standards, transfer processes, improving costs updating reporting instructions, and e昀케ciency for consumers. In April and integrating reporting to a more Pitchbook 2023 £70bn 2022, the UK government committed streamlined and e昀케cient data The government is supporting the to launching a regulatory regime collection process. The FCA created need for top tech talent in the UK. for crypto assets and HM Treasury a permanent Digital Sandbox service completed a consultation on their which promotes solutions to complex The UK tech ecosystem is widely regulation in October 2023. That £60bn regulatory challenges like Authorised considered one of the best in the month, the UK government also Push Payment (APP) Fraud, world and this keeps global talent released plans for the regulation greenwashing, and scam detection. 昀氀ocking to innovative UK companies. of 昀椀at-backed cryptocurrencies They are also investing in AI to However, there is a global tech to harness their bene昀椀ts within support supervision work, identify skills gap; High Potential Individual the 昀椀nancial system. Regulating £50bn online scams, and digital intelligence. (HPI) visas were introduced in 2020 crypto assets within the current Source to ensure the UK is able to keep framework allows for associated attracting and retaining the right new technologies, such as DLT, to FCA 2023, Transforming Data Collection 2023 talent. There were 3,000 HPI and be incorporated into established £40bn entrepreneur visas issued in 2022 capital markets operations, such and more than 2,000 issued in the as debt issuance or tokenisation of 昀椀rst half of 2023. The UK government funds. The UK’s leading position in also announced a £118m skills cryptocurrency development has package to develop more homegrown attracted investment companies £30bn from around the world to open talent and attract more skilled people from overseas. o昀케ces in London. Source The UK is Europe’s leading centre £20bn for 昀椀ntech investment and Home O昀케ce 2023 London is one of the world’s top tech ecosystems. Private equity (PE) and venture capital £10bn (VC) 昀椀rms invested £14bn into early stage UK 昀椀ntech companies in 2022, £1bn less than in the year before but £14bn 3,000 three times more than in France, Germany, HK, Japan and Singapore £0 PE and VC investment into HPI and entrepreneur visas combined. The US saw the highest 2017 2018 2019 2020 2021 2022 UK 昀椀ntech last year issued in the UK in 2022