Foreign-born founders are behind over half (54%) of the UK’s top 100 fastest-growing companies, according to new analysis from The Entrepreneurs Network.
According to research, the representation of foreign-born founders and co-founders is the highest figure since The Entrepreneurs Network started tracking the metric in 2019.
This is despite immigrants making up just 15% of the total population, suggesting an enormous contribution to the economy from those moving to the UK.
The research comes as the government is considering stricter immigration policy, which the tech industry has largely advocated against.
“Once again, we see through our analysis the sheer disproportionate role foreign-born founders play at the summit of Britain’s startup ecosystem,” said Eamonn Ives, research director of The Entrepreneurs Network.
“They are helping to build the growth companies of the future, and we should be welcoming them with open arms. Immigration is obviously a contentious debate, but nobody sensible wants to pull up the drawbridge to top international talent – and the government should reflect as it implements its Immigration White Paper.”
Ahead of the chancellor’s Autumn Budget, the think tank has urged the Treasury to protect the opportunities for international talent to live and work in the UK through schemes like the Global Talent Visa.
“At a time when the broader immigration policy landscape is being reshaped by external forces, it is vital that the UK Government stays focused on remaining open to global talent that can build businesses that create jobs and provide the revenues that pay for public services,” added Nick Rollason, head of immigration at Kingsley Napley.
“With competition for skills and ideas intensifying, the need for agile and forward-looking reforms like these cannot be overstated.”
