Despite the uncertainty of Brexit, the UK's tech sector is still thriving and London is at the heart of it.
The tech sector is growing faster than the entire UK economy, with the digital economy growing at around £97 billion a year - an increase of 30 per cent in five years. The sector is not London-centric, either, with 72 per cent of venture capital and private equity investment going to regional businesses last year, the Telegraph reports.
Investment in the tech industry has been driven by AI, robotics and big data, according to Tech City News. London's AI and machine learning firms have become especially attractive, drawing in 20 times more investment last year (£85.75 million) than the amount raised in 2011 (£3 million).
The UK still leads in Europe when it comes to technology investment, attracted £28 billion in investment since 2011, over double of France's amount (£11 billion) and well ahead of Germany (£9.3 billion).
However, over half of workers (58.2 per cent) in the tech sector believe that Brexit will hamper the UK's high position within the global tech industry. The impact of Britain leaving the European Union has already been felt, with one in 10 tech companies experiencing investors withdrawing or holding back funding since the outcome of the vote.
The Business Insider warns that London is in danger of becoming the "tech capital for dumb money", arguing that the capital is facing a reputation problem. While tech startups, by their nature, are likely to fail, with venture capitalists expecting nine out of 10 investments to disappear, there is a lack of discipline from investors in London.
They argue that investors should have known to stay away with failures such as Powa, photo-sharing app Fling and music social media, Crowdmix. Although they were flawed ideas from the very start, with Business Insider calling them outdated, the startups were still given tens of millions of pounds before going bankrupt.