While just 14% of UK residents are foreign-born, 49% of the UK’s fastest-growing startups have at least one foreign-born co-founder.
A new analysis of Britain’s 100 fastest growing companies highlights the massive contribution of immigrant entrepreneurs to the UK. It reveals:
49% of the UK’s fastest-growing startups have at least one immigrant co-founder.
9 of the UK’s 14 startup unicorns have at least one foreign-born co-founder.
The fast-growing immigrant founded companies of the Top 100 have attracted a combined £3.7bn in investment.
The report calls on the government to reform the visa system in three key ways:
Restore the Tier 1 Post-Study Work Visa and allow international students to work in the UK up to two years after graduation before moving on to another visa.
Reform the Tier 1 Investor Visa by lowering the minimum qualifying investment threshold for investment in UK startups, scale-ups and venture capital funds.
Ensure that the Start Up and Innovator Visas are implemented successfully.