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Mayor of London Boris Johnson has hailed London as a “leading destination” for Israeli technology companies wanting to expand abroad.
The mayor, who is on a three-day trade mission to Israel to boost technology trade links between London and Tel Aviv, said London is “the natural tech partner for Israeli firms looking to expand”.
Israel has one of the leading technology sectors in the world, and the industry accounts for more than three-quarters of the Israeli companies listed on the London Stock Exchange, with a combined market value of £3.7bn.
“With access to a world-class talent pool and a booming digital economy, it is no surprise that Israeli tech companies are making London their home and choosing the London Stock Exchange as their international market for expansion,” Johnson said.
“I’m here to encourage even more of Israel’s top tech talent to head to our shores.”
Accompanying Johnson on the trip is a delegation of 16 UK technology businesses, representing education technology and urban systems, hailed as two of London’s fastest growing technology sectors. A recent report from London & partners and Edtech UK found the global education technology sector worth £45bn, rising to £129bn by 2020.
The Mayor of London has appointed James Layfield, CEO of Central Working, as a technology ambassador for London. Layfield has announced plans to bring 30 leading Israeli startups to London.
“I’ve been a proud advocate for London’s thriving tech scene for many years and, in my opinion, London will be the global city of choice for tech innovation within the next five years,” Layfield said.
The mayor, who has long championed London as the technology capital of the world, was in Tokyo last month, where he aimed to strengthen the countries’ partnership, and said London-based fintech companies could help Japan get up to speed with cashless payment technologies.