The UK’s startup companies which are growing fastly requires special immigration visas to be given if they are given a chance of growing to the size of big companies like Facebook and Google. According to an Institute.
The institute’s co-founder argues that the lack of capable technologists in the UK and in Europe is holding back the startup companies with the great potential.
Coutu’s organization, backed by London Stock Exchange and Google believes that the UK startup companies will have more chance of becoming international giants if they would be able to hire the talented programmers from anywhere in the world.
This is not possible now because of the immigration laws that are preventing companies from hiring workers from outside of the Europe. The visa number for overseas tech workers hits its lowest limit in June, leaving the companies who cannot recruit further.
According to an agency report, in the capital there are around 71,000 software programmers, but in Silicon Valley where more professionals are created than any other place in the world. It is easy for the companies in the US for getting the visas for overseas tech workers, as the programme for H-1B visa brought almost 1, 62,000 technology workers in the US last year.
The government of the UK currently grants only 20,700 visas to the non-EU skilled professionals every year. But the limit was hit in the month of June, making it not difficult for the companies like Facebook UK and Google UK for hiring the people from outside of the Europe during the remaining year.
The UK is having 17 out of 40 European technology companies that achieved the valuation of $US 1 billion in the previous year. As many beliefs that the UK now requires to focus on creating the companies worth USD 100 billion.
In a report, Coutu also argued that the government shall focus its efforts for supporting the determined businesses in reaching to full potential, providing recommendations which include closure of skills gap, developing the leadership and improving the financial access.
The UK government semi-public administrative body Tech City UK was giving 200 visas to extremely talented technologists from outside of the EU in the previous year, but it gave only seven out of them.