It’s a situation I’m all too familiar with from my years working in the London start-up scene. It is a dog-eat-dog environment where it came to attracting, poaching, and holding on to talent.

In the U.S. an estimated 1 million computer programming jobs are expected to go unfilled by 2020
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At every company I worked for, I was constantly being offered cash incentives to refer candidates for the many roles that needed filling by yesterday if our roadmap had any hope of being adhered to – and this was before the whole Brexit mess and uncertainty started to make things even more difficult for everyone.

But in the U.S. the situation is, if anything, even more desperate, with an estimated 1 million computer programming jobs expected to go unfilled by 2020. Yet at the same time, there are many highly qualified foreign individuals who do want to move to, work and contribute to the economy of cities such as San Francisco, Los Angeles, New York and Chicago.

At every start-up I ever worked for, I was constantly being offered cash incentives to refer candidates for the many roles that needed filling by yesterday if our roadmap had any hope of being adhered to
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So although the much-talked-about digital skills gap is certainly an issue, the problem isn’t limited to a simple mismatch between talent supply and demand. The artificial barriers that bureaucracy and politics put between willing and qualified workers and the jobs which will remain vacant if they are not there to fill them is the elephant in the proverbial room.

On the one hand, Silicon Valley boasts the highest salaries and best work culture which makes it a potentially attractive option for foreign engineers, yet these often overqualified and talented individuals face an almost impossible chicken-and-egg conundrum where employers are reluctant to hire workers without visas, but it is often impossible to obtain a visa without having first secured an employer’s sponsorship.

Although the much-talked-about digital skills gap is certainly an issue, the problem isn’t limited to a mismatch between talent supply and demand
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Furthermore, the U.S. immigration policy – and recent escalation of what is arguably an anti-immigrant rhetoric from the federal government are certainly factors that makes it harder for companies to realize and scale their vision, but so are considerations that anybody considering becoming an expat has to take into account, such as relocation costs.

Having applied for my husband’s Green Card not so long ago, I have nothing but sympathy and respect for anyone obtaining a visa, and knowing just how complicated that process can be, I wasn’t at all surprised to find out that an increasing number of tech companies over here are now engaging with services that work to make that transition a bit smoother and more seamless.

To be granted the rather amusing-sounding title of “Alien of Extraordinary Abilities” one must meet at least three criteria from a list of eigh
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One relatively little-known avenue that is a particularly good fit for the industry is the O-1 visa program which, contrary to popular belief, is not something reserved for Oscar-winning actors and Nobel laureates.

In order to be granted the rather amusing-sounding title of “Alien of Extraordinary Abilities,” one must meet at least three criteria from a list of eight which includes winning recognized prizes or awards in their area of expertise, authoring scholarly articles published in professional journals, earning a high salary in their country of origin in comparison to their peers, or judging the work of others in their professional field. Only about 1% of overall visa applicants qualify, but as you might expect, the technology industry’s demand for highly skilled jobs means that a lot of the candidates who are qualified to fill them also naturally happen to meet such criteria.

Employers are reluctant to hire workers without visas, but it is often impossible to obtain a visa without having first secured an employer’s sponsorship
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But although qualifying is already a major achievement, it is only the beginning of the journey, as the process of getting the O-1 visa costs around $13,000 and can take several months, all without a guarantee of success, since technicalities can often throw the process off-course or stop it altogether.

That is one reason why solutions such as Income Sharing Agreements (ISAs) – where the application process and upfront costs – as well as some of the inevitable and substantial relocation expenses associated with moving to a different country – are handled by companies such as LA-based PassRight and then recouped from the applicant’s salary once they settle into their new employment – are becoming increasingly popular

It is a dog-eat-dog environment where it came to attracting, poaching, and holding on to talent
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Last year alone, PassRight has helped 124 such extraordinary aliens obtain the O-1 Visa and start work in the U.S., and talent relocation expert Liran Rosenfeld believes that the adoption of solutions such as the ISAs facilitated by the Global Talent Fund will boost those numbers considerably going forward, as it will remove the risk factor that is putting off a lot of talented individuals from applying.

Last year alone, PassRight has helped 124 such extraordinary aliens obtain the O-1 Visa
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Overall this represents a very interesting trend which puts the rhetoric around immigration and freedom of movement in context. With passions running high, it is often easy to lose sight of the fact that migration is essential to economic growth, and that finding ways to connect talent and demand can make the difference between a thriving business and a failed one in the digital age.

It is often easy to lose sight of the fact that migration is essential to economic growth
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Tech Trends offers a broad range of Digital Consultancy services to guide companies, individuals and brands in effectively leveraging existing and emerging technologies in their business strategy.

Alice Bonasio is a VR and Digital Transformation Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.

The post Aliens of extraordinary abilities appeared first on Tech Trends.

Could a solar storm take modern society back to the dark ages?

This week I went to get a sneak preview of the new exhibition at the Science Museum in London. The Sun: Living with our Star explores our love (and fear) relationship with this enormously powerful force that sustains all life on Earth, but could also destroy us all.

This week I went to get a sneak preview of the new exhibition at the Science Museum in London
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As a tech person, however, what really grabbed be here was the idea of something in between. Not the total annihilation that must eventually come as our star – like all others eventually dies – but the havoc that a solar storm would cause to a human race that’s become entirely dependent on electricity.

One of the displays at the exhibition showcased some humble-looking drawings by amateur Astronomer Richard Carrington. They record his observation of solar spots, which indicate the occurrence of explosions on the surface of the sun called Coronal Mass Ejections (CMEs) and the one he happened to observe is the largest on record to this day.

When the 1859 solar storm hit Earth, people all over the world, from the U.S. and England to Australia and Chile saw spectacular Aurora displays
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When the 1859 solar storm hit Earth, people all over the world, from the U.S. and England to Australia and Chile saw spectacular Aurora displays, ranging from beautiful violets and greens to blood-red. The sky was so lit up that people could read newspapers in the middle of the night, and miners in America started making their breakfast believing it was morning.

The other consequence of the solar storm was that the telegraph system collapsed. The electricity in the air was so strong as to cause fires in some stations, and in others, operators were bemused by the fact that sometimes they could work the telegraph, but only if the power was turned off.

As disruptive as losing telegraph communication was, however, this all happened in a time where reliance on electricity wasn’t really the norm. If the same thing happened today – which scientists say is just a matter of time – power grids all over the world would almost certainly go down on a spectacular scale, depending on the severity of the storm.

If the Carrington event happened today, power grids would go down on a spectacular scale, depending on the severity of the storm
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What struck me the most was how incredibly dependent we’ve become on technology for our basic needs
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I spoke to one of the curators of the exhibition, Dr Oliver Carpenter, about what that would actually look like, and what struck me the most was how incredibly dependent we’ve become on technology for our basic needs.

Nevermind convenience – the fact that we’d not be able to use our gadgets, smartphones and apps for the million things we do each day – or the fact that card payments wouldn’t work (how many of us have almost stopped carrying cash altogether?) but we’re talking fundamental survival needs here.

Good luck running current distribution systems without electricity, and you’d be lucky if your local supermarket could even sell you what they had on the shelves. From tills to fridges, things would just stop working
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Take water, for example. Most of it is pumped into our houses using electricity, so we’d find ourselves relying on bottled water for drinking, and unable to so much as flush a toilet. Food? Good luck running current distribution systems without electricity, and you’d be lucky if your local supermarket could even sell you what they had on the shelves. From tills to fridges, things would just stop working.

And as the old truism goes, humanity is forever just a few square meals away from anarchy. If the situation went on for weeks, or even months, we’d be in a whole lot of trouble, to put it mildly.

I asked Dr Carpenter if there was much we could do about that, given the fact that such eruptions happen frequently and it’s only a matter of time before our luck runs out and a CME occurs at the wrong sort of time to hit the Earth.

We’re getting a lot better at monitoring and predicting solar storms, so chances are that the good folks at NASA would be able to give us a few days’ warning before the proverbial rays hit the fan
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As it turns out, we’re getting a lot better at monitoring and predicting such events, so chances are that the good folks at NASA would be able to give us a few days’ warning before the proverbial rays hit the fan.

However, as much as I’d like to be a glass-half-full sort of person, I can’t help but wonder how much good that would do. Looking around at the chaotic way that governments operate all over the world, do we trust them to have robust contingencies in place for such scenarios?

Take Britain, for example. We had two years’ warning about the disruption that Brexit will cause, yet the government still doesn’t seem to have a plan, much less started to take action to mitigate that. And as bad as that will be, it’s nothing compared to the total blackout scenario we could potentially be facing if a bad enough storm hits.

So even though the curators at the museum were keen to stress that the “survival kit” display next to the Carrington sketches was a tongue-in-cheek, humorous take on this apocalyptic worst-case scenario, I’m actually not so sure.

After all, there is serious talk about the need for the U.K. to start stockpiling food and medicine for Brexit, so there can be no harm in getting a few extra cans in the pantry…

Just in case.

I find it oddly comforting to be reminded that there is a universe out there that’s larger than the current political madness that seems to plague us on both sides of the Atlantic
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I find it oddly comforting to be reminded that there is a universe out there that’s larger than the current political madness that seems to plague us on both sides of the Atlantic. If Armageddon must come, I’d much rather it was caused by a cosmic storm than some fool with too much power randomly pressing the big red button, or self-serving politicians calling stupid referendums . The silver lining in this whole tech blackout scenario is that Twitter would stop working too, and right now that’s looking like a price worth paying.

This article was originally published on The Next Web

The end of the world as we know it? https://t.co/OKXYTosTYh

— TNW Contributors (@TNWcontributors) October 6, 2018

Alice Bonasio is a VR Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio and @techtrends_tech on Twitter.

The post The end of the world as we know it? appeared first on Tech Trends.

Fail fast culture is essential to creativity and innovation, but what does good, creative failure actually look like?

One of the most overused and misunderstood doctrines in tech is “Fail Fast” or some variation thereof. We have got used to celebrating a culture where it is permissible for most start-ups to flounder in their first year (or even a few months) of poking their head over the parapet, and for entrepreneurs to squander millions on the road to that unicorn valuation.

Fail Fast is one of the most overused and misunderstood doctrines in tech
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We have got used to celebrating a culture where it is permissible for most start-ups to flounder in their first year
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Innovation does require the space for creative people to take risks and try new things, and it stands to reason that a good proportion of those ideas won’t work the first time around.

Like fat, not all failure is created equal, however. There’s definitely such a thing as “failing well”, just as eating olive oil, salmon and avocado is healthier than scoffing down a deep-fried Mars bar.

Innovation does require the space for creative people to take risks and try new things, and it stands to reason that a good proportion of those ideas won’t work the first time around
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Like fat, not all failure is created equal
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The idea behind good failure is to learn quickly from your mistakes and incrementally modify your approach until you perfect an idea enough to reach the tipping point of success – or run out of money – whichever comes first.

But what do good and bad failing cultures actually look like in the real world? Funnily enough, the best examples I’ve seen recently have come from two UK conferences, neither of which was hosted by a technology company.

The idea behind good failure is to learn quickly from your mistakes and incrementally modify your approach until you perfect an idea enough to reach the tipping point of success – or run out of money
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Failing the smart way

It might come as a shock to those locked inside the Silicon Valley bubble, but the concept of embracing failure isn’t a tech industry invention at all. It has, in fact, long been recognized as an essential part of the creative process for many industries. And UK cosmetics company Lush shows how that can work even in a, extremely competitive retail environment.

At their creative showcase in Manchester last week, Lush displayed a dizzying array of products – many of which weren’t yet available in shops – but that is nothing new in itself. From its earliest days, their R&D process involved constantly trying out new formulations, often discontinuing other products to make room for them in their shops. Customer feedback was always greedily gathered, and sales figures pored over, so that products that failed to hit the sweet spot were quickly withdrawn to make room for the next wave, and so on.

It might come as a shock to those locked inside the Silicon Valley bubble, but the concept of embracing failure isn’t a tech industry invention at all
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Over the years, that has seen the company build up an extremely loyal customer base which appreciates the fact that Lush tangibly listens to them and values their input (hundreds of punters in Manchester queued up for hours and paid over £20 a ticket for the privilege to attend the showcase, which would be a tall ask for any other retailer to say the least) and also grow into an international chain which appeals to an increasingly broader audience keen on ethical, animal-friendly and plastic free cosmetic alternatives.

Which is why, although they’re relative newcomers to the digital space, Lush sounds credible when it talks about its technology roadmap, currently being developed under the leadership of Jack Constantine, son of Founders Mark and Mo.

although they’re relative newcomers to the digital space, Lush sounds credible when it talks about its technology roadmap
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If there was ever a case study of turning failure around and coming out smelling of roses (and many other delicious things) it’s probably Lush
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From AI and image recognition to help customers navigate their sometimes bewildering products, to 3D Printing and VR/AR tech that will allow you to virtually try on their new makeup range, it all makes sense in the context of their ever-evolving approach. It’s an ethos of failure-as-a-stepping-stone-to-success that filters from the top.

Before starting Lush, Founder Mark Constantine went bankrupt with a venture called Cosmetics to Go, which drew in the punters, but ultimately could not make the numbers work to turn enough of a profit. He lost everything and went back to the drawing board with those hard lessons learned. That experience was later enshrined in the Lush Manifesto (which they printed for years on every shopping bag) which stated their fundamental belief in the right to lose everything and start again. If there was ever a case study of turning failure around and coming out smelling of roses (and many other delicious things) it’s probably Lush.

And the other way…

At the Conservative Party conference, the Chancellor of the Exchequer repeated the party line that unspecified technology can somehow magically provide a solution to fundamental and complex political problems
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In contrast, for a glaring example of what embracing failure in a counter-productive and reckless way looks like, we need look no further than the on-going Brexit saga, and a very different gathering happening this week in the UK.

At the Conservative Party conference, the Chancellor of the Exchequer (for those not familiar with UK politics, this is the man who is basically in charge of running the country’s economy) repeated the party line that unspecified “technology” (possibly Blockchain?) can somehow magically provide a solution to fundamental and complex political problems, including the extremely thorny issue of free movement across the Irish border.

For a glaring example of what embracing failure in a counter-productive and reckless way looks like, we need look no further than the Brexit saga
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Now, some might generously argue that this figure-it-out-as-we-go-along and hope for the best determination to press on with Brexit is akin to the gospel of Zuckerberg, who has done rather well for himself in moving fast and breaking things (such as democracy). Yet the really scary thing is, even Facebook seems to have a more coherent strategy for where they’re headed than the UK government at this stage.

Constructively using failure to innovate is like feeling your way around a room in the dark. The idea is to gradually build up a mental map of where obstacles and dangers might lie as you bump into them, until you find a path through.

Constructively using failure to innovate is like feeling your way around a room in the dark
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What Brexiteers are doing at the moment, however, amounts to having a map of that dark room which clearly shows a cliff and deliberately choosing to ignore it, all the while insisting that the only way forward is to run towards said cliff at full speed and with a jolly heart.

A culture of failure is in essence a culture of learning, and learning has nothing to do with stubbornly choosing to ignore facts. On the contrary, it requires the humility to recognize your mistakes and pivot accordingly. Sadly, there seems little chance of that at this point, and we’re all probably be saddled with the costly consequences of their disastrous failure for years to come. It’s a sad state of affairs when the hippies making the giant bath bombs are the sensible ones you wish were in charge.

A culture of failure is in essence a culture of learning, and learning has nothing to do with stubbornly choosing to ignore facts
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This article was originally published on The Next Web

The art of failing well https://t.co/OazzzZWFDE

— TNW Contributors (@TNWcontributors) October 3, 2018

Alice Bonasio is a VR and Digital Transformation Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.

The post Rinse and Repeat appeared first on Tech Trends.

As the bright cliffs of freedom edge ever closer and we prepare to take back control from our EU overlords, remoaners still insist on pointing out pesky facts.

London is Europe’s leading tech hub fuelled by talent from across the continent. A bad deal threatens to undermine the most dynamic part of our economy @AndyCockburn
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For many years the tech sector has been the bonniest jewels in UK PLC’s crown, paraded as a shining example of innovation, growth and general coolness. I myself enjoyed working in and around Silicon Roundabout for many years and can honestly say that it’s been fun and utterly humbling to be around so many brilliant people contributing so much to the country’s economy. Some of them were even British.

“As a Northern Ireland native, I’ve seen first hand the difficulty that division can cause, just as I can see the major and needless impact that Brexit is having on bringing back the divisions on that island. Isolation and protectionism has never proven to be a positive long term strategy, and that is becoming clear in this case too. And with more in the tech industry, and in the UK as a whole, considering themselves citizens of the world, we risk closing our doors and driving away a diverse set of people that help make us all better.”

Rob Elkin, Busuu

We now had 2 years of due diligence on Brexit and the British people deserve a vote on this deal. Anything else would be highly irresponsible and undemocratic @bernardooo ‏
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Cartoon by Bruce MacKinnon @CH_Cartoon

Show me a thriving start-up that is not a melting pot of cultures from all over the world and you’d seriously be looking at an anomaly. It’s never been surprising for me to hear dozens of languages being spoken around the office, and to be constantly asking my colleagues how to best pronounce their names.

We employ a bunch of highly skilled people and 70% of our staff don’t have a UK passport. Finding and attracting great team members is a major challenge and is the single biggest constraint on our growth. Anything we can do to make it easier for smart people to come to the UK is a bonus. Doing the opposite is frankly economic suicide. Adam Fudakowski, CEO, Switchee

To me, such places are living proof that diversity breeds innovation, so to talk about adopting policies that would make Britain (to borrow some government terminology here) a “hostile environment” for immigration really seems to a move designed to drain the lifeblood from the creative industries – tech included.

We punch above our weight, which means we have a lot to lose. The country of Magna Carta and the Mother of Parliaments deserves a meaningful debate on concrete options, and a vote based on considered strategic goals @richmarr ‏
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“The UK and especially London has become a vibrant and globally successful centre for technology innovation. Many of the most exciting start up businesses here have been founded by immigrant entrepreneurs and grown with UK and European employees joining the companies as they grow rapidly.” Simon Murdoch, Managing Partner, Episode 1 Ventures

As anyone who’s ever worked in a start-up will also attest to, a huge part of a company’s energy and resources goes towards attracting, recruiting and retaining talent. Competition is dog-eat-dog fierce and even with freedom of movement allowing European citizens from 29 countries to come and work in London without any restrictions, it was still a challenge to get the right people on board – there just aren’t enough qualified individuals to go around, British or otherwise.

“Our world leading digital industry is being led into a back water of mediocrity by a crop of leaders who don’t even know what Brexit they want and why they want it. By keeping the best talent in the world out with central government quotas on immigration they’ve pulled down the shutters. Digital leaders will simply start up elsewhere. Toby Beresford, Rise

The Bank of England recently released figures that showed the UK economy is currently 1% smaller than expected two years ago, and this climate of economic uncertainty caused by Brexit is also affecting financing in the sector: Funding from the European Investment Fund has collapsed since the Brexit vote, and a replacement scheme has yet to be assured long-term by the government. The European Investment Bank, which backs a majority of the United Kingdom’s VC funds, has slashed deals with UK VCs and private equity groups by more than two-thirds, with no equivalent funding from the UK government in sight.

Having worked in Silicon Roundabout for many years I can say how fun and humbling it was to be around so many brilliant people who contributed so much to the UK economy. Some of them were even British
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So it comes as no surprise to hear that over 80 UK technology and innovation leaders have signed up as supporters of new tech business group Tech For UK, calling on the Government to back a meaningful vote by the people, on the actual terms of Brexit (something that sadly seems increasingly unlikely).

The Brexiteers admit they can't deliver the Brexit they promised so we deserve a vote on the one they've got us instead @GeorgeBevis ‏
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Tech For UK represents the founders of many of the most innovative and successful businesses in the UK technology sector including Martha Lane Fox of Lastminute.com and Doteveryone, Ben Whitaker, Founder of Masabi, the UK rail ticketing startup, Bernhard Niesner, founder of the language learning giant Busuu, lending giant Zopa, and George Bevis, founder of small business banking provider Tide, among many others. It is also backing Best For Britain in its fundraising campaign for a meaningful vote on the terms of Brexit and the option to Remain and lead in the EU.

Britons voted for Brexit in the initial referendum with inadequate and often wholly spurious information on both sides of the argument @nicksaalfeld ‏
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“It’s time the people had the chance for a meaningful vote, or through parliament, on the terms of Brexit,” says TechCrunch Editor-at-large Mike Butcher who is a co-founder of TechHub, and co-organiser of Tech For UK. “The loss of access to European funds, the flight of talent which powers UK tech companies due to the uncertainty and scandal around immigration, the loss of access to the Digital Single Market, which was never consulted over — all of these factors are adversely affecting the UK Tech industry.”

'Lies run sprints, but the truth runs marathons’ - it's becoming increasingly clear that the fiction that was promised by the Leave campaign were just that @glennbookingbug ‏
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The technology sector has consistently grown faster than the UK economy in recent years, employing over 2 million people and attracting billions in foreign investment. Collectively, Tech For UK supporters have raised hundreds of millions of pounds, put hundreds of millions back into the UK economy and employed thousands of people.

“I spent 12 years working in China – living over there I came to appreciate the value, and leverage, that comes with size. We are a small nation of 65m and I do not believe we are strong or powerful enough to go it alone in a rapidly globalising world. We are European and can’t pretend otherwise. We already have clients making London-based teams redundant as they move whole divisions to Ireland. I catch myself thinking “well it’s ok I’m sure the government know what they’re doing…” and instantly remember they clearly do not. Ed Dean, CEO, Woodseer Global.

Brexit is the most important decisions for generations and it would be irresponsible not to let people have a decision on the exact term of the world they will live in @vhirsch ‏
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Full list of supporters:

1. Adam Fudakowski, CEO, Switchee
2. Adam Price, Founder, VouchedFor & Hatch
3. Alex Hoye, Co-founder, The Faction Collective
4. Andrea Tricoli, Co-Founder, Expressly
5. Andrew Walmsley, Non Exec Chairman, Inskin Media
6. Andy Cockburn, CEO & Cofounder, Mention Me
7. Ben Farren CEO, SPOKE
8. Ben Whately, Co-founder and COO, Memrise
9. Ben Whitaker, Founder, Masabi
10. Benjamin Redford, Co-founder, Mayku
11. Benji Lanyado, Founder & CEO, Picfair
12. Bernhard Niesner, CEO, Busuu
13. Bindi Karia, Innovation Expert & Advisor
14. Cassandra Stavrou, Founder, Propercorn
15. Cécile Baird, Founder, Decentrl.Agency
16. Charlie Dobres, CEO, Busking It Productions
17. Chris Pointon, Co-founder, Racefully
18. Conor Graham, Cofounder, #HackTheHub
19. Courtney Glymph, Product and Solutions Communications, CA Technologies
20. Daniel Appelquist, Head, Samsung Research UK
21. Daniel Murray, Co Founder, Grabble
22. David Batey, Founder, Nickelled Ltd
23. Dimitar Stanimiroff, CEO & Co-founder, Heresy
24. Dominic Campbell, CEO, Futuregov
25. Ed Dean, CEO, Woodseer Global
26. Fabrice Bernhard, Co-Founder, Theodo
27. Frank Kelcz, Partner, Collider VC
28. Gareth Quinn, Founder, Digital DNA
29. George Bevis, CEO, Tide
30. Gianluca Gindro, Senior Data Scientist, Geophy
31. Giles Andrews, Cofounder & Chairman, Zopa
32. Glenn Shoosmith, Founder and CEO, Bookingbug
33. Guy Morris, Managing Director, Quiz the Nation
34. Hephzi Pemberton, Founder, Kiteka
35. Ian Jindal, Founder, Pencil / InternetRetailing
36. Ilicco Elia, Head Of Mobile, Deloitte Digital
37. Irfon WatkinsFounder, Dovu
38. Ivan Mazour, CEO and Founder, Ometria
39. Jack Huang, Director, TrulyExperiences.com
40. James Evans, Managing Director, Bluespot.io Ltd
41. James Whatley, Planning Partner, Ogilvy UK
42. Jana Hlistova, Founder, Diversity Hacks
43. Jessica Kennedy White, UCL Educate
44. Joanna Goodman, Tech Journalist
45. Jon Atkinson, Technical Director, FARM Digital Ltd.
46. Jonathan Petrides, Founder, allplants
47. Josh Feldberg Head of Digital, 89up
48. Josh Russell, Partner, Resolve
49. Katie Moffat, Head Of Digital, The Audience Agency
50. Laure Claire Reillier, Co-Founder and COO, Launchworks & Co
51. Laurence Kemball-Cook, Founder & CEO, Pavegen
52. Madhuban Kumar, CEO, Metafused
53. Marc Roberts, CTO, HiyaCar
54. Marcus Greenwood, CEO, Ubio
55. Martha Lane-Fox, Founder, Doteveryone
56. Martin Goodson, CEO, Evolution AI
57. Matthew Gardiner, Founder, Catch London
58. Melanie Moeller, Product Lead, Sky Spain
59. Merje ShawMD, Path59
60. Michele Cuccovillo, Partner, Rock Mission
61. Mike Butcher, MBE, Editor at Large, Techcrunch
62. Nic Brisbourne, Managing Partner, Forward Partners
63. Nicholas Katz, CEO, Acasa
64. Nick Patterson, Founder, Movemeon
65. Nick Saalfeld, Director, Wells Park Communications
66. Nuala Murphy, CEO, Moment Health
67. Peter Ward, Founder, WAYN/Humanity Inc
68. Pilgrim Beart, CEO, DevicePilot
69. Priya Prakash, Founder, D4SC
70. Riaz Kanani, MD & Founder, Radiate B2B
71. Richard Marr, Cofounder, Applied Recruitment
72. Rob Elkin, CTO, Busuu
73. Rob O’Donovan, Ceo, Charlie HR
74. Simon Murdoch, Founder, Episode 1 Partners
75. Stephen Johnston, Founder, Fordcastle
76. Tamara Sword, Founder, TRM&C
77. Tim Boughton, CTO, Mention Me Ltd
78. Timothy Brownstone, CEO, KYMIRA
79. Toby Beresford, CEO, Rise.global
80. Tom Alisi, Director, deep.ventures
81. Tom de Grunwald, Creative Director, Microclimate
82. Tushar Agarwal Co-Founder & CEO, Hubble
83. Volker Hirsch, Founder, Blue Beck / Tech North Advocates
84. William Reeve, CEO, Goodlord
85. William Roberts, Founder, Loyalty Bay

Alice Bonasio is a VR and Digital Transformation Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.

The post Deal or No Deal? London Tech Leaders Weigh In on Brexit appeared first on Tech Trends.

In an age of polarised politics, companies that stick to their principles and don’t shy away from activism can gain an edge  

The easiest way to find any Lush event is to just follow your nose
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The easiest way to find a Lush event is to follow your nose. As I wandered down to Old Billingsgate market in the heart of the City of London, I was hit by its familiar scent – a melee of hundreds of essential oils wafting from “naked” handmade cosmetics – from solid shampoos and massage oils to fresh face masks and hand-cut soap. I was home.

This “Creative Showcase” was their pièce de résistance, a chance to show off just how far they’ve come since opening their first shop in Poole back in 1995. Their main factory – still based in Dorset – now employs about 1500 people out of a global workforce of around 14,000 – and has nearly 1000 shops in 50 countries.

Lush has come a very long way and grown up a lot in the past 20 years
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It’s safe to say one can no longer dismiss Lush as some sort of whimsical hippy project, yet there’s no sign that they’re reining back their trademark wackiness. Within five minutes of entering the showcase, I spotted a group of dancing ladies wearing nothing but a few transparent plastic bubbles (promoting the idea of “naked” products) walked on a platform full of giant wobbling shower jellies (shower jellies are indeed a real thing) and watched Queen guitarist Brian May going down a slide on his way to inspect machines that were laser-etching soap bars and 3-D printing solid bath melts.

Willy Wonka would eat his heart out, but in spite of appearances, this was all serious business.The reason why Lush is consistently ranked as one of the best places to work in the UK and in 2016 generated pre-tax profits of £43.2m (up 76% from the previous year) is because it sells a lot more than lathers and ointments; It sells an ideology around which both staff and customers can rally.

They have a range of guiding policies around animal welfare, environmental responsibility, profit-sharing and charitable giving that are strictly adhered to, and are involved in broad-ranging activism in causes such as opposition to policies such as fox hunting and badger culling. Which is why it makes sense that Dr. May – a keen campaigner against the cull – would be a kindred spirit to Lush’s Founder Mark Constantine, who posts pictures of badgers on his Facebook, saying he “felt like a kid at Christmas” when they visited his garden.

Willy Wonka would eat his heart out, but this was also serious business
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Constantine has also taken a clear stance against Brexit, speaking up for the essential contribution that European workers make not only to Lush, but to the broader UK economy and adding a belief “that all people should enjoy freedom of movement across the world” to its core mission statement. Like many businesses, Lush simply would not have been able to grow as it did without the graft and dedication of European workers. And I should know, because I was one of them.

The European Union allowed Lush to flourish as a business
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Back in 2003, when Lush was a much younger company but already experiencing very rapid growth, I got an entry-level job at its flagship shop in Carnaby Street. It was flexible enough to allow me to work around my University studies, and in only a few months I got promoted to key holder, then assistant manager. I would stayed and gone further, but I was awarded an Erasmus grant, a scheme that allowed me to do my second year in another EU country without paying hefty tuition fees, but that involved leaving my job and moving to Italy. So it was interesting to hear Lush’s next guest of honour at the creative showcase – Labour Leader Jeremy Corbyn – talk about the importance of the Erasmus programme and vow that his party would try its best to keep it, even after the UK leaves the European Union. I do wish him luck in that.

The saddest thing about Brexit is that I wouldn’t have done any of that without the European Union. I wouldn’t have got a job a Lush and been able to work there without any restrictions as an EU citizen, nor would I have received the grant that enabled me to graduate.

Lush sells much more than cosmetics. It's an ideology around which people can rally
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In fact, I would never have chosen to move to England in the first place; a huge part of the attraction was that the UK was not only a country with its own rich culture, but that it was only an hour or so away, through frictionless travel, from so many other rich cultures I could experience. It is sad to think the next generation of Brits will not have that option.

In such polarized political times it is hard to remain neutral, but companies like Lush seem quite happy to embrace this activism and incorporate it into their core business, even creating a “soapbox” space on its own website where “passionate people with strong opinions” can exercise their freedom of speech.

Lush’s Founder might well describe himself as a “wishy-washy liberal,” but the liberal left is getting increasingly angry as they watch progress in areas such as diversity, worker’s rights and environmental protection being eroded by current policy, and companies like his are becoming a beacon through which people feel they can channel some of that anger, even if it’s by purchasing a nice bath bomb.

People can exercise their activism by buying a nice bath bomb
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Lush has taken a stand against Brexit
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Any doubt that Lush are not shy of getting political was dispelled when Jeremy Corbyn was ushered in next. Before joining Constantine on stage for a fireside chat – where he toyed with the the possibility of going vegan and said he’d not hesitate to call Donal Trump and tell him that pulling out of the Paris Accord was a mistake – the Labour leader took off his jacket, put on some gloves, and made his own bath bomb. Needless to say, it proved a big hit with the audience who chanted “Oh Jeremy Corbyn” and laughed indulgently when he said he only had a shower in his house, so wouldn’t be able to use the ballistic he had just made.

“I hear Number 10 has a bath,” quipped Constantine.

 

“Well, that’s probably a good reason to move,” conceded Corbyn.

Like most things at Lush, it’s all good fun, but it doesn’t mean they’re not being serious.

@jeremycorbyn says he’s got no bath to use the bath bomb he’s made at #lushcreativeshowcase. “Number 10 has a bath” replies Mark Constantine pic.twitter.com/XtfdqOvran

— Alice Bonasio (@alicebonasio) September 4, 2017

Because the company has definitely grown up and will continue to evolve and grow as it embraces digital technology and branches out into verticals like luxury spa treatments. But unlike many businesses, Lush realizes that this doesn’t mean abandoning who you are. Most importantly for its loyal community, it also shows how – if you stick to your principles – you don’t actually have to choose between doing well and doing good.

This article was originally featured in the Huffington Post

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Alice Bonasio is a VR Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio and @techtrends_tech on Twitter.

The post How Soapbox Politics is Good Business appeared first on Tech Trends.

Region wants to stimulate the local economy and create a sustainable future for health and social care through technology

The national healthcare ecosystem is undergoing a dramatic, fundamental shift with rising healthcare costs, increased demand on systems and growing, ageing populations placing our health and social care systems under unprecedented pressure.

By 2020 the Health Tech market is estimated to hit £37bn
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At the same time, the health tech industry is worth billions and the digital revolution, which has already reshaped many other sectors, is also transforming healthcare. By 2020 its value is estimated to hit around £37bn, with the UK thought to be on course to take a 5% share of that market.

The national healthcare ecosystem is undergoing a fundamental shift
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And while Cornwall might not be the first place that comes to mind as a tech hub, the region is steadily establishing a reputation for enabling innovation in the Health Tech sector. In fact, entrepreneurs vouch for the fact the region is unique in the way that it gives companies the independence and freedom to trial new ideas, making it a test bed for innovative solutions while also allowing those who live there to achieve a good work-life balance.

Nicola Lloyd from Invest in Cornwall says that this mix of entrepreneurship, community and sense of place is already attracting talent and business to the region: “In recent years, we have seen a growing interest in international businesses relocating to Cornwall and we’re delighted to see a strong pipeline ahead. This not only reinforces the strength of opportunities and capabilities for foreign direct investment in the region, but these global companies also generate more local jobs in the wider economy as a result.”

As part of this on-going drive to encourage businesses to consider moving to Cornwall, this month the NHS and other healthcare professional were for the first time brought together with health technology companies at the Maximising Technology in Health and Care event. Held at Falmouth University, the meeting explored technology solutions for healthcare issues in Cornwall and beyond.

“There are very few other places in the country where I’ve seen such a ground swell of local support from the local community, the NHS and businesses,” says Liam Booth-Smith Chief Executive of research think tank Localis. “There is a huge breadth of businesses working in Cornwall that is making creating a sustainable future for health and social care a key part of their mission, and the region’s greatest natural resource is its opportunity with technology”

Although NHS England has said that it is looking to save billions from the health budget by embracing technology, however, the healthcare sector is a system comprised of numerous organisations renowned for being notoriously hard to penetrate – especially for SMEs.

“Within such a large organisation as the NHS, we’re always amazed at the talent, innovative ideas and opportunities proposed to us by some of the smaller players in the tech sector, but we rarely have the chance to meet so many health technology businesses in one place,” agrees Kathy Byrne, Chief Executive of NHS hospital Royal Cornwall Hospital Trust. “The event provided a fantastic opportunity to meet the businesses and entrepreneurs and start those conversations about their products and services that have so often led to improving the healthcare system,” she said.

The recognises that the health technology sector is a growing global market, not only comprising the development of apps and other digital technology tools, but also robotics and other smart devices. However, there is a recognised block to the growth of the sector, namely the willingness and ability of end users and consumers to adopt the solutions on offer, as well as the willingness of commissioners, care givers and consumers to implement and pay for those solutions.

“Our geography means that we have got coterminous health and social care organisations which are partnering with leading institutions such as Falmouth University to look at ways in which we can deliver integrated healthcare in rural, digitally enabled communities to improve outcomes and give people more choice and control,” says Cornwall Council Chief Executive Kate Kennally “We hope to promote the organic growth of partnerships between health technology businesses from across the world and representatives from the NHS, local government and health and care organisations – ensuring the right people are in the right place at the same time,” she believes.

Two early examples of such partnerships are EPIC and Smartline, both of which have recently secured funding within the region and by the European Regional Development Fund. EPIC is a collaborative project designed to improve the use of technology in both health and social care, while Smartline will help Cornish SMEs develop innovative products, processes and services by increasing understanding of how technology can be used to improve people’s health and wellbeing.

Cornwall is aiming to become a test bed for Health Tech innovation
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Smartline brings together an interdisciplinary team of epidemiologists, geographers, mathematicians and sociologists to explore possibilities for innovation using digital technologies, and how they can help connect communities – linking data in novel ways to improve product development in health and wellbeing across a range of sectors.

Professor Ray Jones of Plymouth University says his institution will organise 10 locality groups around Cornwall and identify problems in health and social care that have possible technology solutions. “In turn, EPIC will develop their ideas and help them apply for funding set aside to support individual projects,” he explains.

The project is also recruiting over 350 Coastline households from across the region to become a test bed for products, services and processes that will have wider county, national and even international reach. This involves installing sensors to monitor domestic environments – working with individuals, families and communities to understand their challenges and aspirations. It is hoped this will lead to a well-developed and flexible supply chain and high value jobs through new engagements between businesses and the knowledge base.

Connecting communities to help individuals take back control of their health and wellbeing
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Creative England will also work with the digital and technology sector supporting them to enter the health and social care market, identifying new products or services that can be supplied from Cornwall locally as well as to the rest of the UK and beyond.

“Our objective is connecting communities to help individuals take back control of their health and wellbeing. Cornwall has been the perfect starting point for this project as the infrastructure, talent, necessary resources and general sense of community already exists,” says Dr Tim Taylor, Senior Lecturer in the University of Exeter Medical School and Smartline Principal Investigator. “This helps to ensure that we are in the best place possible to organically develop the eHealth and eWellbeing market in the region by linking innovation to cutting edge research and working closely with Cornish SMEs to support R&D in this field,” he concluded.

For companies looking to get into Immersive technologies such as VR/AR/MR/XR our Virtual Reality Consultancy services offer guidance and support on how best to incorporate these into your brand strategy.

Alice Bonasio is a VR Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedInand follow @alicebonasio on Twitter.

The post Cornwall Betting on Health Tech  appeared first on Tech Trends.

The UK Government are committing £2.5 million towards a new International Research Centre (IRC) based in Lebanon.

The Tech Hub is not about taking talent to global markets, but bringing global markets to them
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The British Ambassador to Lebanon HE Hugo Shorter, made the announcement this week while speaking at the ArabNet Beirut conference, saying that the IRC would act as a bridge between the thriving knowledge base in Lebanese Universities and the global tech industry, fostering partnerships with British institutions. The aim is to position Lebanon as the Middle East’s R&D hub, acting as a catalyst for economic growth, stability and job creation and a gateway between east and west.

“The Tech Hub is not about taking the most talented to global markets. It is about bringing global markets to them. It is about returning Lebanon to being the gateway to the MENA, a bridge between East and West as it always was. Lebanon’s people are its most coveted resource. This partnership, the UK Lebanon Tech Hub, is about harnessing the potential of that resource. This partnership is about creating 25,000 jobs in Lebanon by 2025’ The UK is not just supporting Lebanon’s security and stability, but it’s leading the way in investing in Lebanon’s prosperity too,” said Mr. Shorter

The IRC will act as a portal for multinational and local companies of all sizes to undertake research and develop new solutions in these areas through a collaborative environment where commercial gain can be achieved for all. Its first project, a collaboration between the Lebanese University and the Geneva-based CERN European Laboratory for Particle Physics, amongst others, is already underway. The collaboration aims to produce the world’s first Fiber Optic Sensors System designed to measure parameters such as temperature, humidity, concentration of pesticides, fertilizers and enzymes in the soil of cultivated fields. This will empowers farmers by allowing irrigation that will result in water saving and increased crop yield, and cut the cost of watering farmer’s fields from $500 per hectare to under $80 per hectare

The IRC's first project is a collaboration between CERN and the Lebanese University
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UK Lebanon Tech Hub Chairman Nicolas Sehnaoui

“Lebanon’s real strength is in its brain power, reflected in its world-class education and its stellar diaspora,” says Nicolas Sehnaoui, Chairman of the UK Lebanon Tech Hub. “The hub’s R&D centre will bridge Lebanon’s academic strengths and knowledge capabilities with the global industry. Retaining our best talent is a game changer for our economy. Investing in our talents will harness their enormous potential to turn Lebanon into a globally recognized innovation hub all while creating jobs for our youth. ”

The International Research Centre is a key recommendation of a recent report by the UK Lebanon Tech Hub – a joint international initiative by the Banque Du Liban – which outlines a plan to create 25,000 jobs by 2025. The report examined 339 ICT companies in Lebanon to map out the local knowledge economy in relation to global trends. It estimated that by focusing on key growth sectors such as FinTech, HealthTech and Online Retail the country could add USD 7 billion to its GDP by 2025.

Lebanon’s real strength is in its brain power
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Lebanon is well poised to become a regional FinTech hub
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The report finds Lebanon is well poised to become a regional FinTech hub for the MENA region. The total assets of Lebanese banks now exceed USD $175 billion and they have been able to meet international standards by working with several successful FinTech companies such as Bluering.

The Wellbeing sector in the Middle East and Africa is expected to grow by 8.7% by 2018
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In reference to the growing Lebanese HealthTech scene, the report highlights that the Wellbeing sector in the Middle East and Africa is expected to have the most rapid growth, at an estimated annual average increase of 8.7 per cent over 2014- 2018; an opportunity for the realization and adoption of local solutions to solve local problems. For example, CardioDiagnostics, a medical technology startup from Beirut, that was recently invited to the White House and praised by President Barack Obama, is the world’s first Cloud Based Cardiac Monitoring Solution accessible from any internet-connected device. It is a wearable heart monitor that checks the electrical activity of the heart, detects abnormalities and alerts the hospital or physician who can evaluate and respond accordingly in case of emergency.

There is huge opportunity for Lebanon to be at the forefront of online retail industries
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The report also highlights the huge opportunity for Lebanon to be at the forefront of how retail industries are reimagining consumers’ shopping experiences via new channels of purchasing which leverage growing trends such as gamification. The global e-commerce market is expected to reach USD $1.5 trillion in 2018, with the MENA demonstrating the highest growth potential. At the same time, the percentage of Lebanon’s Internet users who purchase online is expected to increase, with a massive 20 per cent growth rate over the next five to seven years. Indeed, this is the highest growth rate worldwide.

Lebanon's ambition is to become the Tech Gateway to the Middle East
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Lebanon’s entrepreneurial ecosystem is indeed developing fast (even by tech standards), with the ICT sector in the country experiencing 8% annual growth over the past five years. According to a recent UK Lebanon Tech Hub report, this amounted to a market worth USD 400 Million in 2015, making it one of the top 20 entrepreneurial nations in the world. The country also boasts three of the top 20 universities in the Arab region – including the prestigious American University of Beirut – which support their ambition of becoming the “tech gateway to the Middle East.”

The post British Government to help fund International Tech Research Centre in Lebanon appeared first on Tech Trends.

I was told during a recent trip to Canada that diversity was key to innovation and creativity cannot thrive in a climate of fear. I heartily agree, which is why it worries me to see the political and popular rhetoric which emerged from Brexit in the UK and Trump’s election in the US.

Creativity cannot exist in a climate of fear
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Technologists in the US are also understandably concerned that they might get conscripted into enabling the creation of a “Muslim Register” or similar databases that help target people on the basis of their race, religion or national origin. The historical parallels are quite disturbing, and many recently signed a pledge to say they’d refuse to participate in such initiatives.

But with Donald Trump’s inauguration now upon us, and Theresa May’s “Hard Brexit” ordeal about to start in earnest, will liberal-minded techies be forced to look for greener creative pastures? Canada certainly hopes so, and the country is doing a pretty good job of making itself welcoming.

Not only does Canada have arguably the world’s most charismatic leader – now that Barak Obama has vacated that post -in Justin Trudeau (I mean, just look at the guy, he could be part of the recent dance-in protest staged outside Mike Pence’s house in DC) but it also boasts a host of friendly immigration and tax policies, great quality of life and a booming tech ecosystem.

Innovation needs diversity to thrive, and Canada seems to get that
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In this article for The Next Web I talk to one of the companies North of the border looking to capitalise on this, and ask British Columbia’s Minister of Technology for his insights into what gives areas like Vancouver the edge in attracting coveted tech talent to the region.

“None of this even existed five months ago, it’s crazy when you think about it,” says Ryan Peterson as he shows me around the “Holodeck,” a 25,000 square foot holographic studio where his company Finger Food Studios is making cutting-edge augmented and mixed reality products for Fortune 500 companies. It’s a cavernous warehouse on the outskirts of Vancouver, but Peterson tells me that the facility is almost full. Over the next 12 months they’re planning to double the size of their 100-strong team as the demand for MR picks up, but that’s only the beginning.

“As the demand really picks up we want to become the major hub for this, so there’s definitely the potential to be over a thousand people here. We need people to develop and design this technology. And for every engineer, we need a creative person who can harness that technical horsepower,” he says.

They’re preparing for the Holodeck’s launch party that afternoon, where – in between sampling some of what the local micro-breweries and wineries have to offer – I talked to the region’s Minister of Technology, Amrik Virk about the tech scene in British Columbia. I asked him what he made of the fact that we were standing among the world’s largest holograms (Finger Food produced a full-scale holographic model of a truck for Paccar which was showcased at the launch).

“I grew up watching Star Trek so seeing the holodeck here is amazing,” he says with a grin, before telling me that although Finger Food is certainly a poster child for the BC tech industry, they’re far from atypical. These are booming times. “When I ask Tech CEOs about their growth projection they always tell me around 20,30,40%. We have around 100,000 families in the area who put food on the table as a result of the tech industry in one of its various verticals.”

He tells me that the ecosystem is helped by a friendly tax environment – corporate tax here is the lowest in North America, 26% compared to an average of 41% in the US – and additional industry-specific incentives such as the Interactive Digital Media Tax Credit.

With creative elites feeling increasingly unwelcome in the ultra-polarized political climate of Britain and the US, will there be a surge of tech talent heading North to Canada?
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There are active moves from both industry and government to encourage more people in the technology sector to move to the region. Last year they brought in 5800 workers to fill specific needs of that booming job market, but they’re still 4000 people short of this year’s target according to Virk. “And these are really cool jobs,” he says “We’ve very much working with the federal government to also establish a path to permanency for those individuals that come here, because we want them to stay here.”

Their recent increased visa allocation is also making it much easier to get talented individuals from the tech industry, and to get them over quickly. The process, I’m told, can take as little as two weeks. Finger Food’s Creative Director Chris Waind believes that these factors are all aligning to open up the floodgates for Canada’s creative industries.

“Creativity and innovation cannot exist within the realm of fear,” he says alluding to the post-Brexit climate in the UK. “You get these people that simply don’t want to live with what’s happening in Europe at the moment, which runs completely contrary to what it is like to live in Canada.” Waind himself is a British expat who’s been living in Vancouver for the past 17 years, and he tells me there’s nowhere else he’d rather raise his family: “It’s an incredibly accommodating place to live, absolutely gorgeous. And Canadians, God Bless them, are wonderful people. They are so nice, as an English person I sometimes find it irritating. I go back to England every once in a while to get my grumpiness fix.”

“we’re seeing more hits, more queries on our websites from outside than ever before,” confirms Virk. “This is not something we started last month as a result of events in Europe and the US, this has been our mission for many years, but now that you do have those events, we can go to places like Silicon Valley and show them that we already have this tech space and say to them ‘we welcome your background, your ideas and your training.”

This is not a case of building a Northern version of a Southern industry, as #BCTECH is actually surpassing many other tech hubs in terms of growth and innovation. “You’re looking at the early 90s Seattle scene to get anywhere close,” says Waind. “I think the next 10 to 20 years you will see Vancouver being the number 1 city for tech.”

That’s easy to believe once you’re immersed in that scene, but comes as a bit of a surprise given how under the radar that growth has been. It’s perhaps a byproduct of Canadian humility that they’re reluctant to shout their accomplishments from the rooftops, but the sense I get from everybody here is that this might be about to change. As Virk tells me: “I’m suggesting now that in that humble Canadian way we accentuate what we’re good at and we invite the world to be part of that.”

Well, beam me up Scotty…

After Trump and Brexit, Canada’s Tech Industry Prepares for a Talent-Poaching Bonanza https://t.co/sqr3n9XSe1 via @thenextweb

— Alice Bonasio (@alicebonasio) January 20, 2017

For companies looking to get into Immersive technologies such as VR/AR/MR/XR our Virtual Reality Consultancy services offer guidance and support on how best to incorporate these into your brand strategy.

Alice Bonasio is a VR Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.

The post Will Brexit and Trump Drive Tech Talent to Canada? appeared first on Tech Trends.

The economic impact of Brexit for the UK is yet to be determined, yet a recent report by Magister Advisors concludes tech will be one of Europe’s pillars of growth irrespective of whether a country is in the Eurozone or outside it, as the European technology sector is uniquely capable of operating and competing globally.

the European technology sector is uniquely capable of operating and competing globally
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Political turmoil across the Atlantic and the tightening of US immigration, however, will actually represent an opportunity for Europe, allowing the continent to attract key skilled workers and consolidate its growing world-class talent pool. “At a time when the idea of borders invades practically every aspect of economic and political discourse, here is a class of companies that are borderless by design, are competing globally and are underpinning Europe’s economic performance in a way that deserves more attention,” says Victor Basta, Partner at Magister Advisors

Tightening of US immigration will represent an opportunity for the European Tech Sector
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In a year when the whole European experiment has been called into question, the continental technology sector has actually come of come of age. In 2016 sectors such as AI – demonstrated by acquisitions of companies such as Swiftkey and Magic Pony – as well as FinTech and Gaming have attracted unprecedented interes. The report shows that European tech deals more than doubled in 2016, from $55BN to $127BN, totalling nearly1,000 separate tech M&A, many of which were initiated by Asian buyers, who have ploughed more than $55BN into Europe in 2016:

“Asian buyers and investors had a transformative effect on the European technology landscape in 2016, spending more than ever before, and there are signs that their appetite will remain strong. We have seen a Nordic company founded barely six years ago, Supercell, attract $9B from one of Asia’s internet giants. And one of the pillars of the mobile revolution, ARM has gone from IPO to a $35BN acquisition by Softbank in under 20 years,” says Basta.

These included six such blockbuster deals of over $5BN accounting for almost $100BN of 2016 exit value. To put this in perspective, we’d only 5 deals of that magnitude in the previous five years combined. That upward trend is set to continue, with 22 European tech companies now valued at over $5BN. That’s a staggering combined value of over $0.5TN.

“The sheer scale of 2016’s blockbuster acquisitions in Europe demonstrates that this was the year that the European technology industry came of age,” confirms Basta. “The largest acquisitions were transformational platform deals, not consolidation deals, and that is a major shift that sets the scene for more activity in 2017 and beyond.”

Mature private tech companies in Europe are fuelling economic growth in an unprecedented way. Europe’s tech unicorns (companies valued at $1BN) are in a much stronger position than their US counterparts, setting the scene for more of those blockbusters deals to happen over the course of 2017-18. Against the backdrop of anaemic EU growth rates, still a fraction of US growth, the largest 100 private tech companies are achieving growth rates of 20%+, often much more than that.

“European tech is developing very differently than Silicon Valley,” Confirms Basta.  “Silicon Valley culture has often been accused of creating a valuation bubble; companies without much revenue being hyped into valuations of hundreds of millions, even billions of dollars. In Europe, there is far more focus on the fundamentals.  $1BN+ value European private tech companies on average have far more revenue and profit than their US counterparts.  European investors are requiring companies to “show me the money” before they are willing to buy shares at high prices.”

He added: “The exponential growth in value associated with Silicon Valley is no longer confined to the Pacific Time Zone.  Entrepreneurs in Europe now have home-grown models of how to create, build, and scale companies of huge value without ever leaving the European continent.”

The post Report: European Tech Sector Will Weather Brexit and Benefit from US Immigration Crackdown appeared first on Tech Trends.

Looking back at this article more than one year on, it’s hard to believe that we’re in an even more confusing position than in those initial chaotic days after the referendum…

Just over a month after Brexit, and we’re in a bit of a deceptive lull. August is traditionally a quiet month in politics, where parliament goes on recess and nothing really gets done. Come September, however, we’re going to have to start dealing with the real consequences of June the 23^rd. The London tech community seems resolutely optimistic, yet there are real concerns emerging around the sector’s ability to retain talent, trade in the single market, and – crucially attract investment.

This morning I had breakfast with an ex-colleague who is now looking for a job. She, alongside 15 others, had just been made redundant at a start-up that had attracted millions of dollars in early seed funding the previous year. Last week that same company fired a third of its employees because their next investment round, which they thought was secured, suddenly fell through. It was the day after Brexit. Coincidence? Perhaps. But perhaps not.

One tech company fired a third of its workforce when investment fell through after Brexit
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There has been so much post-referendum analysis on what might/should/could/will/won’t happen that the only certainty has become uncertainty itself. And that’s certainly not good for business. As an investor risk comes as part of the package, but in a fiercely competitive funding marketplace, all other things being equal, they will invariably pick the safest-looking bet, and from that perspective it’s hard to argue that the looming cloud of Brexit hasn’t placed the UK at a disadvantage.

Brexit uncertainty places UK companies at a disadvantage when bidding for investment
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For one, it is a truth universally acknowledged that start-ups are only worth as much as the calibre of talent they manage to attract. What they make and what they sell is purely intellectual property, and therefore hinges on their – for want of a better term – “Brain Bank”.

Now visit any London start-up and I challenge you not to lose count of how many nationalities make up those teams. That diversity is also part of what makes the ecosystem so vibrant and creative. EU freedom of movement meant that entrepreneurs could bring in talent from 28 different countries without going through lengthy and expensive immigration procedures. This ability, which allowed them to scale in an agile way, could be severely hampered in future.

Brexit could hamper our ability to attract tech talent to the UK
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An aspiring entrepreneur – who wishes to remain anonymous – approached me after reading my original Brexit article on The Next Web and asked me for some advice. He is a European national who has been living and working in the UK for the past 3 years, and was just on the verge of starting his own business. After the Brexit vote, however, he decided to delay that move, unsure as to what impact it would have on his residency status and his ability to run a company in the UK:

“Would I eventually get kicked out or have to apply for a visa in an Australian point-based skill/salary immigration system if I am CEO of a London-based business?”

As much as wanted to help him find some answers, the honest truth is, I have no idea what’s in store for the 3.6 million EU citizens currently living in the UK. Even if the process of triggering Article 50 (which would actually start the Brexit process) drags on for years as many expect, it is estimated that over half a million people would still fall short of the required 5 years to qualify for residency.

I came to this country as a European citizen myself, and have lived and worked in the UK for over a decade now. Two years ago I applied for British citizenship and even did the hilarious – and mandatory – “Life in the UK” test which is pretty much a bad pub quiz. I never really thought that I’d need that passport in order to remain in the country, but now I’m glad I beat the rush. In such turbulent times for the economy, the only sector guaranteed explosive growth in the coming years is citizenship testing.

The only sector guaranteed explosive growth in the coming years is citizenship testing.
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Alice Bonasio is a VR Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio and @techtrends_tech on Twitter.

The post Another Summer of Uncertainty as UK Tech Sector Braces for #BREXIT appeared first on Tech Trends.