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Sadiq Khan to meet tech giants on trade mission to Silicon Valley

todayMay 10, 2022 14

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Sadiq Khan to meet tech giants on trade mission to Silicon Valley

The Mayor of London is set to meet with tech business leaders as he heads a trade mission to Silicon Valley.

Sadiq Khan will speak with senior representatives from some of the world’s biggest tech companies including Google and LinkedIn at their headquarters in California on Tuesday.

The visits are hoped to drive investment and further links between London’s tech sector and companies in the Bay Area as part of a tour of the US to boost London’s tourism and technology industries.

The mayor will also visit the Silicon Valley HQ of Plug and Play, the world’s largest early-stage investor and a global innovation platform, which has announced its first UK operations in both London and Warwickshire.

Plug and Play, which was an early investor in Google, PayPal, and Dropbox, also aims to make up to 30 investments per year into UK early-stage start-ups.

Palo Alto-based artificial intelligence software provider SambaNova Systems has announced an expansion in the UK with the opening of its first London office over the coming months.

The mayor will be joined on his visit to the Bay Area by 11 founders from some of London’s women-led tech companies who are looking to explore investment and expansion opportunities in the US market.

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

The visit comes as new research reveals 2021 was a record year for investment into London tech companies.

The study, commissioned by London & Partners – a company which promotes the City of London – revealed the capital has attracted more new international tech investment projects from the US than any other global city in the last five years.

The data also showed London and the Bay Area are the top two hubs for fintech (financial technology), receiving more investment than all other global cities, including New York and Singapore.

Ruth Porat, SVP and CFO of Google and Alphabet, said Google was “committed” to growth in London, adding: “Google shares the Mayor’s belief in the power of technology to drive sustainable economic growth, and we look forward to continuing to deepen our connection to the capital in the years ahead.”

Mr Khan met with Hillary Clinton, current mayor of New York Eric Adams, and its former leader Michael Bloomberg on Monday at the start of the trip before travelling to San Francisco at about 10.30pm (6.30am BST) for the west coast leg of the tour.

On the next part of his trade mission, the mayor will travel to Los Angeles to discuss export opportunities for London’s creative technology businesses.

Published: 10/05/2022 by Radio NewsHub

Written by: NDR NEWS

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