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‘It hasn’t affected our plans for hiring’: Startups defy post-Brexit gloom

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Laurence Sangarde-Brown, head of partnerships and growth at Jobbio, explores how tech startups have reacted to Brexit.

In the early hours of Friday June 24th, London’s tech ecosystem was left shocked and awed as Brexit turned from a distant nightmare into an inevitable reality.

In the case of Jobbio, over 80% of our London-based staff are not originally from the UK.

And in the immediate aftermath of Brexit, some of the team couldn’t help but suddenly feel unwelcome – sentiments that were shared by many in the diverse startup community.

Across the board, we were concerned about losing access to the freedom of movement as well as the possible stifling of innovation if the best workers left for Berlin, Amsterdam, or other European tech hubs.

Two months on from the Referendum and much still remains uncertain.

Consequences won’t be fully understood or felt for quite some time. Yet, the startup ecosystem has already begun to defy post-Brexit angst by continuing to push growth and by coming together as a community even more strongly than before.

Despite some companies reporting losing out on funding due to Brexit, we’ve also seen major successes since. Laundrapp recently pulled in £5m, whilst Darktrace raised a staggering $65m.

Hussein Kanji, founding partner at Hoxton Ventures, one of the VCs that backed Darktrace told us: “We’re not so worried about Brexit. The pound has fallen but it’s not a big deal. The companies that are interesting are the ones that scale globally and exponentially. They have more than one currency. The growth challenge is more important than the Brexit challenge”.

Successful funding isn’t the only positive news. Secret Escapes has chosen to continue expansion plans into France and Eastern Europe. Sadiq Khan launched the #LondonIsOpen campaign. MassChallenge accepted 100 finalists into their Accelerator programme.

MassChallenge’s UK-based CMO Diane Perlman said: “London has been and will continue to be an attractive and innovative ecosystem that draws the top startups from all over the world. Ideas, skills, and ambitious minds will always flourish here as long as there is a supportive ecosystem in place”.

In many ways, the tech sector is firmly optimistic about the UK’s future. For the majority of companies, according to a recent survey by Tech City UK, it’s “business as usual”. Even when it comes to the biggest fear around Brexit – hiring – companies are still confident in attracting Talent and growing successful teams.

As General Assembly’s UK regional director Julien Deslangles-Blanch says: “I expect the UK will remain an attractive destination for aspiring and established entrepreneurs. The UK tech scene is vibrant and growing steadily, with tech representing 27% of all job growth in London, and the need for Talent will remain strong as the industry continues to expand”.

“Brexit has had definite implications on our hiring plan,” Hire Space’s Head of Talent, Nick Larkins also tells us. “However, at Hire Space we’re confident in our business, our team and our market. Being based in the best location for Talent, London, we’re incredibly optimistic about the next 6-12 months”.

So, what’s next?

Venue booking platform Hire Space will be one of 50 tech companies and high-growth startups exhibiting at the upcoming EXPAND London, a careers and networking event delivering the best opportunities to ambitious Talent.

Powered by Jobbio and partners General Assembly, Tech City UK, and London & Partners, EXPAND London is an initiative that celebrates London’s most exciting ventures as well as the Talent that helps them grow.

Alongside Hire Space, participating companies include MassChallenge, Secret Escapes, Shazam (one of the UK’s most popular, home-grown “unicorns”), and Onfido, the ID verification firm that recently landed investment from Salesforce Ventures. For these companies, Brexit isn’t putting a dampener on hiring and growth.

As head of talent at Onfido, ZeShaan Shamsi, assured us: “Brexit hasn’t affected our plans for hiring at a high level. We’re still looking to recruit the best Talent in Engineering, Product, Sales, and Customer Success. We’re moving forward positively as we always intended.”

“Events like EXPAND continue to provide the support and exposure needed for companies to attract the very best Talent. Obviously we’re pretty biased as we love events at Hire Space, however I’d struggle to think of any that have such a positive impact on London’s tech ecosystem”, adds Nick.

With the community banding so strongly together, it’s no wonder there is cause for optimism.

A diverse and influential group of speakers, including Nilan Peiris (VP Growth, Transferwise), Alastair Cotterill (Head of Creative and Brand Strategy, Pinterest), and Jessica Butcher (co-founder, Blippar), will also be sharing their entrepreneurial journeys and discussing the latest innovations in tech.

Two months on from the referendum and a few things are certain. These companies and speakers are determined to let the world know that there are still a multitude of opportunities in the capital, that the UK will not lose momentum, and that ultimately #LondonIsOpen.

Do you want to be part of this revolution? We’d love for you to join us at EXPAND London to network with some incredible companies and get inspired by a top lineup of speakers.

EXPAND London takes place on September 1st from 6PM, at Bankside Vaults (SE1 9UF). Click here to register for free.

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