EnterpriseStart-Up

UK Tech Start-Ups ‘Oppose Brexit’

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

Google + Linkedin Subscribe to our newsletter Write a comment

Hundreds of UK tech start-ups and entrepreneurs sign open letter opposing Brexit in latest show of support for Remain campaign

Campaigners looking to keep Britain within the EU received a major show of support from the country’s technology industry today.

Hundreds of technology-based start-ups and entrepreneurs signed an open letter published in the Financial Times this morning warning against the economic catastrophe that could affect the country if it voted to leave the European Union in a referendum due to be held next month.

Among the signees were representatives from companies including Deliveroo, Innocent Drinks, Zoopla and King.com, alongside luminaries of the UK tech space such as Tech City chief Eileen Burbidge and Twitter board member Martha Lane Fox.

Shock

uk cybersecurity lock ©shutterstock Borislav Bajkic“Of course the EU isn’t perfect; but rather than cutting ourselves off from the opportunities it offers, it is better to be on the inside helping shape the rules of this market instead of just being subject to them,” the letter read.

“The economic shock of a vote to leave the EU would also be hugely damaging to our businesses. Leaving could lead to lost investment, missed opportunities and lost jobs.”

“The UK is currently the best place in Europe to launch and grow a business; leaving the EU will undoubtedly undermine the ability of Britain’s entrepreneurs to start-up, innovate, and grow. It is simply not worth the risk.”

Is the British technology industry better off with the UK as an EU member?

View Results

Loading ... Loading ...

The letter is the latest indication of support for the Remain campaign from the UK’s tech sector ahead of the referendum vote on June 23.

Earlier this month, a survey conducted by industry body TechUK found that 70 percent of UK technology firms would want to remain in the EU, with many saying that the membership helps British firms be more attractive to international investment and gives the UK a better deal in its trading relationship with other members.

London’s technology community has also signalled its backing for the Remain vote, with a survey of Tech London Advocates members finding that 87 percent opposed a possible Brexit, again believing that membership of the EU boosts the UK economy by making it more attractive to international businesses looking to operate in Britain.

Even Sir Stephen Hawking has signalled his opposition to the move, signing a letter to the Times newspaper alongside 150 other members of the Royal Society, saying that a Brexit would be a “disaster” for British science.

The letter also warned that the UK received £2.4 billion more in research grants back from the EU than it paid out, raising concerns about the level in investment in British science if the Leave campaign won out.

What do you know about the world’s start-ups? Try our quiz!