Despite the changes brought about by Brexit, little has changed; the UK remains an integral part of Europe.

Now more than ever, it's important to recognise the potential we have when we work together and harness our combined strengths. The UK boasts a world-leading startup ecosystem. At the end of last year, British tech startups were valued at a record £817 billion ($996.8 billion), ranking as the third-largest global player. Like many regions, the UK faces challenges – economic uncertainties, shifting global dynamics, and an evolving venture capital landscape – but these are hurdles we can overcome together.

Across the Channel, Europe's tech sector remains vibrant and resilient. Despite a general slowdown in 2023, European funding levels averaged €15 billion per quarter over the past year – 50% higher than in 2019. While Europe also contends with its own set of challenges, the region continues to drive innovation, particularly in areas like AI, where companies received over €11 billion in funding last year alone.

Rather than viewing these challenges in isolation, there's a tremendous opportunity for the UK and Europe to leverage each other's strengths and share our rich histories of industry and innovation. By building on this foundation, we can develop and share best practices that benefit us all. A great example of this in action is Sweden, who excel in scaling success rates, and countries like Luxembourg, Poland, and Denmark with impressive scaleup survival rates. Switzerland leads the way in patent applications per capita, whilst European nations are setting high global standards in R&D expenditure.

The exchange of ideas, resources, and support will enrich a company and contribute to overall success. This way of working is no longer just beneficial but essential in today's interconnected world.

There's also immense potential in leveraging European funding and talent. The EU's Horizon Europe programme has a pot of €93.5 billion available until 2027, offering significant opportunities for startups. With the UK's recent deal to rejoin the program on fuller terms, there's a chance for UK startups to tap into this generous funding. Moreover, the UK is home to many international founders, with research showing that 43% of AI startup founders in London are non-British. Access to European talent is crucial, and programs like Erasmus for Young Entrepreneurs, Estonia's e-residency, and Denmark's DTU Skylab are turning academic research into scalable solutions. By embracing this talent pool, both the UK and Europe can address skill shortages and drive innovation. Germany produces almost double the number of STEM graduates compared to the US, and the DACH region (Germany, Austria, and Switzerland) is outstanding in STEM talent creation -together, we can ensure that our startups have the skilled workforce they need to thrive.

The key is collaboration. By fostering deeper partnerships across borders, learning from each other's ecosystems, and testing strategies together, we can reach new heights of growth and global competitiveness. By leveraging Europe's world-leading STEM talent and the UK's late-stage funding capabilities, our startups can achieve greater success.

Institutions and governments have a role to play, too. By harmonising policies, streamlining regulatory processes, and facilitating access to talent and capital, they can create an environment where startups on both sides of the Channel can flourish.

In a world where other geopolitical regions are advancing rapidly, it's crucial that we don't isolate ourselves. Instead, let's focus on what we can achieve together. The UK and Europe have a unique opportunity to build a wider startup ecosystem that drives economic growth, supercharges innovation, and ensures a strong future for all.

It’s time to seize the moment, look at what we can achieve together and harness our shared potential. By collaborating across the Channel, we can create a thriving, interconnected startup scene that benefits everyone.

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