UK tech leaders back Tech For UK and Best for Britain

May 24, 2018

  • Seek a people’s vote with an option to Remain in EU
  • Martha Lane Fox among the 80+ tech leaders

Over 80 UK technology and innovation leaders have signed up as supporters of new tech business group Tech For UK and today called on the Government to back a meaningful vote by the people, on the actual terms of Brexit.

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Tech For UK is also backing Best For Britain in it’s fundraising campaign for a meaningful vote on the terms of Brexit and the option to Remain and lead in the EU: https://www.gofundme.com/FightBrexit

“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. It’s time the people had the chance for a meaningful vote, or through parliament, on the terms of Brexit,”
said Mike Butcher, co-founder of TechHub, and co-organiser of Tech For UK.

Brexit has not happened yet and is already having an effect on the the most innovative part of the UK economy: technology. The Bank of England recently released figures that showed “the UK economy is currently 1% smaller than expected two years ago”.

“The ongoing uncertainty along with declining growth is a hard one to take. We went from the fastest growing (before Brexit) to the lowest growing in the EU with the economy expected to grow a mere 1% in 2018. It’s time the people of the UK had a say on what Brexit actually is”
Madhuban Kumar, Founder/CEO, Metafused, and co-organiser of Tech For UK.

Investment flight

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. Even a government-backed report cited Brexit as a top challenge for tech companies in the UK.

UK’s Technology sector at considerable risk

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. This is why Tech For UK is lobbying for this vote.

Tech For UK represents the founders of many of the most innovative businesses in the UK 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.

“The Brexiteers admit they can’t deliver the Brexit they promised so we deserve a vote on the one they’ve got us instead”
George Bevis, CEO, Tide

“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”
Bernhard Niesner, CEO & Co-founder of Busuu

” ‘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, and now the truths of the damage being done to our economy and our standing in the world are laid bare. The people deserve the chance to vote on the truth – the final terms of the agreement that will decide the future of this country. Anything less would be a travesty of democracy,”
Glenn Shoosmith Founder/CEO Booking Bug

“Having been deeply involved in the U.K. and global technology ecosystem for the past 20 years and most recently as an Advisor to the EU Innovation Minister as a member of the European Innovation Council, I firmly believe that we cannot work in a vacuum. A tech company born in the UK is global from almost day one, and I fear not having a say on the final terms of Brexit will have a meaningful impact on UK’s capability to maintain its global lead in the tech sector”
Bindi Karia, Innovation Expert + Advisor

See what more of our 85 supporters have to say.


Tech For UK supports Best for Britain

Tech For UK plans to work closely with Best for Britain, which is campaigning against Brexit and for a meaningful vote on the terms of Brexit which includes an option to Remain and lead in the EU.

ABOUT TECH FOR UK

Tech for UK is a group of concerned tech business people who are calling for a meaningful vote on the terms of Brexit, with the option to Remain and lead in the EU.

More info about Tech For UK

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