On Brexit & Supporting A Borderless Innovation Culture

On Brexit & Supporting A Borderless Innovation Culture

30-Jun-2016 by Andy Shannon

Almost a week has passed since the Brexit results. Like many champions of the UK’s tech startup scene, we were disappointed (to say the least).

On the ground in the U.K., many are just starting to digest the outcome. What’s undeniable is that despite uncertainty A) the global tech community spins daily and B) it truly has no borders. Sure, there are ups and downs, but the sector continues to innovate and adjust no matter what the circumstance.

In fact, as I’m writing this post from my hotel room in the middle of selecting 10 new startups for our Startupbootcamp Istanbul program, the news is breaking about the Ataturk airport terrorist bombings. Talk about operating in uncertain times…

Whether the challenge is politics or much worse, we will not back down from our commitment to backing innovators from around the world. This isn’t just for self-righteous reasons, historically many of the world’s best companies have formed during difficult times.

Similarly, working with 300+ startups over the last 6 years, we’ve learned that entrepreneurs by their very nature are not only agile, but ultra focused on balancing risks and rewards. They gather data and evaluate the situation with a level head.

Perhaps that’s why the possible struggles of BREXIT hasn’t led us to go into full panic mode.

There will likely be changes that may or may not impact U.K businesses like hassles when traveling to the EU, changes to the optimal country of incorporation, and the ease at which we can attract talent to join our internal teams.

Nevertheless, there are reasons the U.K (and London specifically) has seen more tech sector growth in the past 5 years than almost anywhere else. It speaks the language of business, has the world’s most startup friendly investment policy (1), and is a global hub for an incredible number of industries (2). None of that will change overnight.

As for Startupbootcamp, our commitment to supporting founders in any way we can, no matter the circumstances, won’t change.

——

(1) at least that I’ve seen – SEIS is just ridiculous (in a good way)

(2) finance, media, security, creative/design, etc

Andy Shannon

Andy is the Head of Startupbootcamp Global. His past includes multiple startup operating and investing roles, with plenty of failures along the way. Andy has his MBA from Imperial College London and BBA from the University of Wisconsin – Madison