London is about so much more than just FinTech

May 8, 2018 · Guest post by Russ Shaw, Founder of Tech London Advocates, for UKTN

London 898x505

Revolut’s announcement of $250m in funding last week propelled the startup to unicorn status and rightfully placed FinTech at the heart of the news agenda. Tech companies disrupting the financial services industry have been the jewel in the crown of the UK’s booming technology industry, attracting the highest levels of investment, top talent and setting the country’s international reputation as a global tech powerhouse.

However, in order to solidify London’s reputation as a world-leading innovation centre, we need to develop a diverse range of tech expertise. For the capital to be recognised as a true hub of technological advancement across all industries, a range of specialisms need to be developed.

London must be celebrated for the level of innovation it produces across different sectors of the economy, as that is what will ultimately give it greater recognition and credibility as a dominant tech ecosystem.

DeepTech

Alongside the financially lucrative FinTech space, other specialisms are steadily on the rise and London is leading the charge on many fronts, with DeepTech being a field that has gained considerable recognition and market attention. A technological revolution driven by AI, machine learning, data, VR and AR is sweeping the world, and the UK is in a strong position to carve out its unique place in the global DeepTech landscape, alongside fellow tech superpowers US and China.

Whether it be due to our long-standing tradition of academic excellence in the field, or the innovation prowess demonstrated by the likes of DeepMind, Improbable and BenevolentAI, London and the whole of the UK are leading the way in shaping the technology that will define the future. DeepTech was also recognised by a third of the capital’s tech professionals in a recent Tech London Advocates survey, as the vertical set to take over the London tech scene in the next five years.

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