After a series of high profile acquisitions and IPOs, the creation of tens of thousands of new companies and the success of the inaugural Technology Week in the city, London trust in the technology sector is at an all time high.
British capital has been steady in the arena of global technology, pushing forward the reputation of Europe in areas such as financial technology (or Fintech), datatech, and Healthtech. But there are still some risks to its upward trajectory.
One of the main obstacles to the access range of skills and talents. In every sector worldwide technology, talent shortages need to be addressed for the industry to fully develop.
Why? First, we rely on talent as a source of innovation and technological breakthroughs, disruptive ideas. Secondly, we need skilled technology industry to ensure ideas fulfill their potential, scale-up and change the world.
Ensure London is equipped with the talent has risen to the top of the agenda tech London; Earlier this year, more than 40 per cent of London Advocates Tech expert and professional groups identified lack of talent as the single biggest obstacle facing the technology sector, London. Given the city's position as a global leader in technology, the impact of this shortage will not be confined to London alone.
I strongly believe that the private sector is best positioned to encourage technological innovation, sustainability and growth. In London, the initiative and "bootcamps" as Decoded and the Academy of coding and technology Maker offers an excellent course - some teaching how to code in a day. While this program may initially seem expensive, they can develop the skills to get the job salary £ 35,000 ($ 58,000), representing a fantastic long-term investment.
British universities also need to turn into tech talent pipeline - in the same way Stanford and Berkeley quench the thirst of Silicon Valley for skilled graduates. While some of the new universities in the UK have embraced the technology and coding, too many higher education institutions continue to place a disproportionate focus on the more conventional subjects or humanities-based. In addition, it is important we ensure that universities do teach skills that the data set to the technology industry, so they offer skills that are relevant and applicable to the world of work.