Tech initiatives will create 1,600 jobs, says PM

Tech firms are to invest more than £2bn in the UK, creating 1,600 new jobs, Prime Minister Theresa May has announced.

The BBC reports the PM hosted a tech roundtable event at which three firms announced private investment into the UK economy. She also used the event to announce several government-funded initiatives to help British start-ups and attract foreign talent.

Among the initiatives is a visa scheme, launched by government, aimed at attracting more foreign entrepreneurs, as well as a £2.5bn programme to help UK companies grow their businesses overseas.

Government is also starting two ‘tech hubs’ in Brazil and South Africa to build innovative partnerships and develop skills, capability and business networks in these markets.

Overseas investment in the UK announced includes:

  • £1.9bn over the next five years by US cloud computing firm Salesforce as it opens a second British data centre next year
  • UAE’s state-owned sovereign wealth fund Mubadala’s launch of a £300m UK-based European investment fund 
  • Japanese IT services firm NTT Data £41m investment to open a new office and an innovation centre that will create up to 200 jobs over the next three years.

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