Artificial intelligence will be the main talking point at the coming London Tech Week but investment and skills problems remain
For some companies attending London Tech Week this Monday, just being there is an achievement. The sudden failure in March of Silicon Valley Bank (SVB), a financial cornerstone for the UK and US tech industries, had left many British companies wondering how they were going to see out that month.
Ashley Ramrachia, chief executive of Academy, a tech company with headquarters in Manchester, said the first he knew of SVB’s troubles was on Wednesday 8 March. By Thursday, Ramrachia and others were trying, unsuccessfully, to withdraw funds. By Friday, the Bank of England said it planned to put SVB’s UK operation into insolvency and Ramrachia was one of 3,500 customers in Britain scrambling to deal with the consequences.
About Author
More Stories
Virologist Wendy Barclay: ‘Wild avian viruses are mixing up their genetics all the time. It’s like viral sex on steroids’
From the Beatles to biologics – how Liverpool became a life science hotspot
UK scientist wins prize for invention that could help avert ‘phosphogeddon’