We’ve already seen what can be achieved when the greatest minds from around the world come together to tackle a global challenge. Creating and manufacturing a vaccine for COVID-19 in record time didn’t happen by coincidence, it was due to collaboration between the world’s best scientists, researchers, medical professionals and innovators working towards a shared goal.

World-leading tech hubs like London, New York and the Bay Area are perfect partners for collaboration. They are home to world-class entrepreneurs and brilliant problem solvers developing new technologies and innovations.

In a recent report from Startup Genome ranking the top 140 startups ecosystems to grow a globally successful tech company, the Bay Area took the top spot while London and New York came in joint second. Each provides unrivalled access to networks, investors and accelerators and deep pools of international talent.

There are several natural areas for collaboration between UK and US tech hubs. One of the most obvious and vital ones right now is in climate tech. COP26 has been a stark reminder of the sheer scale of the challenges we face today. London, New York and the Bay Area have an essential role to play in producing the innovators and technologies to tackle the climate crisis.

Global VC investment into climate tech is booming and we’ve seen exceptional growth in the number of climate tech companies since the Paris Agreement. Global investment levels have increased five times between 2016 and 2021, with the US and UK among the top countries globally for investment.

In fact, London and the Bay Area are home to the biggest clusters of climate tech companies globally, with deep pools of capital increasingly being pumped into green solutions. From London-based electric vehicle unicorn Arrival, who has recently launched in the US market, to the stock market debut of US-based electric vehicles company Rivian, both regions are producing game-changing technologies.

What’s more, profit does not have to be at the expense of purpose. Tech solutions that have impact at their core are what society needs right now. In fact, Blackrock CEO Larry Fink recently predicted the next 1,000 unicorn companies will be in the climate tech sector.

Another area for collaboration is healthtech. Covid-19 has accelerated innovation across the healthcare industry, and we’ve witnessed record levels of VC investment into UK and US healthtech companies over the last few years. We are also seeing companies working across both regions, like Babylon Health and Skin Analytics who were both founded in the UK and have expanded into the US to capitalise on the huge market opportunity and shared innovation in both nations.

It’s not just the biggest tech hubs in the UK and the US that have a key role to play either. There are tech hubs dotted across both countries that are growing rapidly and are an essential part of the puzzle.

In the UK, Manchester, Cambridge and Bristol have shared strengths in healthtech, fintech and climate tech. Across the pond new tech cities are growing rapidly, like Austin, Miami and Illinois, and attracting an increasing number of UK companies to grow and scale their businesses there. 

As the borders open between the UK and US and the special relationship can flourish fully once again, there is great power in bringing people together in person and virtually to drive forward change.

Entrepreneurs, investors and policy makers from across the UK and US recently came together for the 15th year of the annual Silicon Valley Comes to the UK (SVC2UK) event series.

SVC2UK has a singular goal of inspiring entrepreneurship, innovation, and economic prosperity. It brings together the global entrepreneur community to share knowledge and foster an inclusive and diverse network of entrepreneurs and inspire the next generation.

Events like this are powerful. They act as a catalyst for new collaborations and partnerships from which the next game-changing technology could arise. 

So, as we look ahead to the next ten years, I am confident that global collaboration between major tech hubs is the key to tackling the biggest challenges we face today and building back better. After all, entrepreneurs have a proven track record of making the impossible, possible.