Brexit: what are the short- and medium-term consequences for UK tech startups?
William McQuillan

Good read, thanks. But, as a Silicon Valley (SV)-based investor and entrepreneur working on a very promising startup in the UK (my first in the UK since 1999) we have had far more challenges than the fear of Brexit in securing early-stage capital. EIS is the culprit. It seem to me that the #1 motivator to invest in startups is tax concessions rather than the value of the opportunity and Brexit. If SV investors had a tax incentive-first perspective, well, it wouldn’t be the SV we now have. We stopped that in 1986.

Investors, honest investors, invest in talented driven, visionary teams with a plausible idea that is far from complete. That’s what a startup is; an idea that still needs to be proven. In the UK, I have found, investors first qualify the startup to determine if it is EIS compliant. Next, evaluate the idea and third, look at the team. This just seems a little odd to me, but it’s probably because I’m an American…from SV.

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