Friday, 24 June 2016

Wbat will Brexit mean for Tech in the UK and Ireland




I have made no secret that I am pro European, I am for open markets and open borders to allow the free flow of ideas and work. I also except that it is not perfect. But the result we have been confronted with today from the UK, has major ramifications for the economy, for investment and most of all from an Irish perspective for Northern Ireland.

The only part of the UK that shares its borders with a European country. Its troubled past not yet a memory, and then the collapse of the Celtic Tiger, now this.

The uncertainty this causes for business is crazy, jobs, investment, fund raining, new startups rules, Rules for operating in other countries. All of this was part of a European package, which is now lost.

I am not saying that there will not be some opportunities there always are, but the uncertainty for the near future is just massive. In my mind, Ireland will benefit, as will France and Germany, as businesses relocate there operations to be able enhance the opportunities across Europe.

From a tech perspective Dublin's already crowded tech space will grow further putting pressure on rental rates for Startups, as will other centres, Cork, Limerick, Galway and maybe even Sligo. The opportunity for them is massive. Lets hope they grab it and make the most of it.