What London can do to keep its digital darlings

Jun 19, 2017 · http://realbusiness.co.uk/

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The demand for digital skills has clearly outstripped supply. Against the backdrop of political and economic uncertainty, London Tech Week is the ideal time to remind our thriving city to fight to retain the title of Europe’s biggest hub – and that it needs to step up efforts to keep its digital darlings.

Across Europe, we are witnessing a shortfall in the number of people with the skills required for the application economy, with an estimated 756,000 ICT jobs going unfilled by 2020. European cities are thus fighting to attract and retain talent, meaning London has to gear up in order to retain its digital darlings.

In the UK, STEM students (those studying science, technology, engineering or maths) account for up to 20 per cent of the student population, whereas in Europe, this percentage is only around two per cent.

Make no mistake: our tech clusters are thriving. London’s Tech City, for example, recently celebrated its fifth anniversary and a string of achievements, not least a tenfold increase in the volume of venture capital coming into London and the fact that London is now ranked as the number one digital city by the European Digital City Index.

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