Immigrants have the potential to start the fastest growing economy, a new analysis shows
Immigrant founders are the driving force behind Britain’s most dynamic young companies, according to new research showing that more than half of the UK’s fastest-growing start-ups were founded by entrepreneurs born overseas.
A study conducted by entrepreneurs analyzed 100 early stage companies that saw the sharpest increase in their valuation in May, and it was found that 59% of founders were exposed to a foreign tank that started to track data in 2019.
Eamnnives, the association’s director, said the findings underscored the irony entrepreneurs play in the UK economy. “We’re seeing a role for expatriate innovators to play in Britain’s first environmental conference,” he said. “We should have welcomed ourselves with open arms.”
The initial share of high growth established by early immigrants far exceeds that of the UK population, standing at around 15%.
The details come as Britain overhauls its immigration laws. Starting this month, graduates from the 100 Top Global universities can apply for a new high-level government VISA, tied to 8,000 destinations per year. While industry bodies have welcomed the move, they are urging ministers to go further by increasing the size of the global talent visa, reducing administrative costs and providing faster ways to stay with the founders and their families.
Several entrepreneurs highlighted in the report said the UK remains open and supportive of foreign talent – but warned the big foreign program is more nimble, early-stage firms.
Teru Adachi, founder of Cyber-Hika Platform APRIO, left Japan to launch his business in London in 2023. “The business community here is unique and open to innovation,” she said. “But the procedures for visa financing are stubborn for a small company. These rules are made with big companies in mind.”
Other foreign-born innovators behind Britain’s high growth include AI Video Company Synthesia, Crypto Business Deblock, and Sustainable Market Pullplace Cult Mia, founded by Lithuanian entrepreneur Nina Briance.
Immigration lawyer Nick Rollason, head of immigration at Kingsley Napley, said attracting top entrepreneurs must remain a national priority. “With the competition for skills and ideas intensifying, the need for outdated and forward-looking reforms cannot be overstated,” he said.
The report warns that without an easy-to-access visa regime, the UK risks losing business talent to start-ups in the US and Europe.
