Wise, Multiverse and Index Ventures are among more than 100 tech and investment firms calling on the next government to support skilled immigration.
Industry lobby group the Startup Coalition has launched a manifesto – supported by dozens of major firms – urging the victor of this week’s election to reform the visa system to ensure the tech sector has access to top international talent.
The manifesto described the current visa system as “not fit for purpose” and a “barrier to entrepreneurs”.
Prior to the election campaign, the Conservative government has taken a hard stance on immigration that has been criticised by startups.
Home Secretary James Cleverly at the end of last year raised the income threshold for skilled migrants to £38,700, sparking a fierce backlash from the tech industry.
“As an immigrant founder of the company that achieved the UK’s largest tech listing, I understand deeply why immigration is the lifeblood of a successful tech sector,” said Wise co-founder and Startup Coalition manifesto backer Taavet Hinrikus.
“However, we are in danger of losing the highly motivated, deeply ambitious founders and talent right now by making it so difficult to settle here.”
Saqib Bhatti, the tech minister, previously defended the home secretary’s decision to UKTN, but conceded “the tech sector clearly has a need for talent, and we try to address that”.
The Startup Coalition has also recommended greater tax incentives for cutting-edge research and development, increased public funding for startups, a greater emphasis on supporting smaller startups in competition regulation and acting on the recommendations of the spinout review.
The manifesto supported existing plans to direct pension fund cash towards startups.
“Founders consistently tell us that startups need some basic things to thrive. Great talent, access to the capital needed to grow, and easy to understand, pragmatic regulation,” said Startup Coalition executive director Dom Hallas.
“Whatever happens on Thursday we need to ensure that the calls of entrepreneurs are heeded if we want growth in the UK.”
Read more: Whichever party wins the election must sort our tech visa system
The post Tech founders call on next government to support skilled immigration appeared first on UKTN.
