When it comes to tech hubs around Europe, London leads by a country mile and throughout 2017, the UK’s tech industry saw a grand total of £2.45 billion in venture capital funding. Meanwhile, on the other side of the Channel, the French secured their position as Europe’s second largest tech hub having raised the equivalent of £564.97 million.
With funding figures like this, there’s no argument that these two countries are leading the continent in the pursuit of new and exciting technology. Recently, experts from both countries have discussed combining their knowledge to focus on Artificial Intelligence.
The two countries are planning to bring their tech industries closer together via an event set to take place later this year. The planned conference will hopefully see world-leaders in cyber security, data and artificial intelligence come together and share their unique knowledge.
Matt Hancock, Digital, Culture, Media and Sport Secretary commented on the cross-Channel relationship:
“The UK and France are strengthening ties in technology and innovation. I’m looking forward to leading a cutting-edge digital conference this year which will see our world-leading experts in cyber security, digital skills, artificial intelligence, data and digital government share their talent and knowledge.
Both countries benefit when our digital economies are strong and the event will deepen our bonds and foster cross-Channel collaboration between those at the forefront of modern technology.”
The overall aim of this partnership between the two countries is to bring their respective tech industries closer together. This will allow both French and British based companies to take advantage of the fast-developing technologies taking the world by storm with a specific focus on AI.
Over the past few years, France’s tech industry has taken huge strides in terms of enticing businesses. The newly built Station F tech hub is proof of the investment they’re prepared to make and the renovated railway station is already hosting start-ups, multinationals and investors from around the world.
Alongside this, President Macron has made it clear that he will commit to continuing the growth of France’s tech sector and his history as an investment banker have made Fintech companies turn their heads towards Paris.
Leah Matkin, Head of Analytics at Eurostaff commented on the proposed partnership saying:
It’s a great opportunity for both the UK and France to build on their already bustling technology industries. Alongside this any advances they make in projects such as AI will only create more jobs across Europe as other countries race for innovation.”
As both countries continue to lead Europe with their innovative projects, combining their knowledge will only create more opportunities to further the biggest tech projects. The UK’s already established tech hub and France’s growing sector should continue to lead Europe as they look to compete against technological powerhouses such as China.