London looks to strengthen tech trade and investment links with US as Mayor Sadiq Khan visits Silicon Valley

Tech trade and investment between London and the United States continues to grow from strength-to-strength, with fresh foreign direct investment data showing that London is the “number one destination globally” for US tech companies looking to expand outside of their home market.

The research has been released to coincide with the Mayor of London’s trade mission to the US where he will meet with senior tech bosses, investors and entrepreneurs from the Bay Area to promote even stronger tech links between the two regions.

US tech companies continue to see London as their preferred destination for international expansion, with research from London & Partners showing that in the last five years London has attracted more new tech investment projects from the US than any other global city.

Between 2017 and 2021, London attracted 251 new tech investment projects from the US, creating almost 9,000 new jobs; more than tech hubs such as Singapore (154 tech projects), Bangalore (121 tech projects), Dublin (121 tech projects) and Paris (115 tech projects).

Over the past few years, a number of leading US tech companies have made long term commitments to London with the likes of Facebook, Google, Apple, Netflix, Amazon, Microsoft, LinkedIn, Snap and Stripe all growing their workforce and expanding their office space in the UK capital.

The Mayor of London Sadiq Khan will be meeting with tech investors and entrepreneurs in Silicon Valley and San Francisco to secure more trade and investment deals for the UK capital.

The Mayor will visit the Silicon Valley headquarters of Plug and Play, the world’s largest early-stage investor and a global innovation platform, who have announced that they will be setting up their first UK operations in both London and Warwickshire.

Through partnerships with leading UK brands, including founding partners Jaguar Land Rover and BT Group, Plug and Play will build and run innovation programmes rooted in collaboration between corporates and startups. Plug and Play also aims to make up to 30 investments per year into UK early-stage start-ups.

The Mayor of London, Sadiq Khan said: “I’m delighted to be in Silicon Valley today to bang the drum for even more investment in London by American tech companies. London is already the number one destination for American tech companies to expand, showing we are an unrivalled destination in Europe for US businesses to invest.

“It is great news that even more leading US tech companies have unveiled plans to invest in and create new jobs in London, and I encourage businesses from across the sector and beyond to set their sights on London.”

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