In recent months, there’s been a lot of news that AI startups are leaving the UK for other countries. Back in February, the House of Lords Communications and Digital Committee published a report, expressing concerns about this trend. It warns that unless the UK steps up its support for AI and tech companies, it risks becoming an “incubator economy” — a place where promising startups are born but quickly move elsewhere after outgrowing their home market.
One example of this trend is the AI company 11X, which recently secured a $24 million Series A round and then relocated to the U.S. The UK has long been a thriving startup hub, but it seems to be losing its ability to keep these businesses within its borders.
The two big questions now are: why is this happening, and what can be done to turn things for the better? ...