The State of the Industry report from the Technology Association of Georgia (TAG) identifies the strength of Georgia’s tech sector and that our tech company growth outpaces the nation’s. Gov. Nathan Deal has declared technology a key focus for the state and a leading driver of Georgia’s economic recovery. Not surprising then that the United Kingdom, one of the world’s leading tech nations, is actively pursuing business partnerships with Georgia’s leading entrepreneurs and tech companies — providing them the perfect environment in the U.K. to launch their international business plans.
The U.K.’s combined IT and creative industries sector is one of the most vibrant in the world. It employs more than three million people and contributes more than $133 billion to the U.K. economy. A stunning 36 percent of all Internet traffic is routed through U.K. servers. Several U.K. tech companies have operations here.
Like Georgia, the U.K.'s tech sector includes robust technology clusters. One of the newest is Tech City in London which is seeing a phenomenal burst of growth, despite the recent recession. Tech City grew from a handful of high-tech companies (15 in 2008) to some 250 businesses today — showcasing the U.K.'s exciting business environment as a hub for global business. With more than 250 innovative digital, creative and technology companies calling Tech City home, the area also plays host to multinational industry leaders such as Google, Microsoft and Cisco, and provides access to the city's venture capital community.
The U.K. government is channelling millions of pounds of investment into the sector, including $320 million into technology and innovation centers over the next four years. The government has also introduced the investors and entrepreneurs visa to help make it easier for the best and the brightest to set up in the U.K. And now the U.K. has the lowest corporate tax rate of any G-7 country, and this is set to fall further to 23 percent by 2014.
The U.K. and Tech City provide an excellent platform for Georgia companies to tap into this growth and highlight Georgia’s well kept secret. One of the first events organized by the newly opened UK Trade & Investment (UKTI) office at the Consulate in Atlanta will feature Tech City and the cluster of digital media and mobile technology incubators and accelerators. Tech City is home to one of the largest concentrations of small, fast-growing digital technology firms in Europe and could be the perfect stepping stone for Georgia tech companies expanding into new markets, creating jobs at home and overseas.
Today, UKTI will host a major event (“London Calling: Realizing International Opportunities in the Digital Era”), bringing together some of Georgia’s leading tech companies and experts. Participants include Bob Schukai, Global Head of Digital and Mobile Media for Thomson Reuters who is a leading advocate of Tech City partnerships. UKTI — the government department that helps overseas companies bring their high-quality investment to the U.K. as well as supporting trade with the U.S. — has created the Tech City Investment Organization (TCIO) led by a team of entrepreneurs to help drive technology led investment, new talent and innovation into Tech City.
The UKTI team in Atlanta is ready to support Georgia tech companies who want to explore one of the most exciting tech hubs in the world. Together Georgia and U.K. can help promote growth and jobs in both countries and ensure that Georgia gains recognition as a world leader in the tech sector.
Annabelle Malins is Her Majesty’s Consul General in Atlanta.
John Yates is a partner at Morris, Manning & Martin LLP.
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