The UK is in danger of losing its edge as a start-up hotspot, according to a report into the 5,000 fastest-growing private companies in Europe.
UKCloud, GCI Network Solutions, Widget, Red Stack Tech and Puslant are among the UK IT services and hardware firms appearing in the list, which ranks firms based on three-year revenue growth.
In total, 441 UK firms made an appearance in the research, which was compiled by Inc Magazine. Some 174 of those were based in London, more than any other city.
In its commentary of the research, Inc claimed the mood among European start-ups remains "relatively upbeat" thanks in part to low interest rates, but it also posited that Brexit could see start-up talent flow from the UK to the continent.
"The Brexit vote may be bad for the UK, but it's a potential gold rush for everyone else," it stated.
"After all, in 2015 about 40 per cent of tech start-up founders in London were from outside the UK, according to VC firm Balderton Capital. If Britain's departure from the EU makes it difficult for London to get immigrant talent, then places like Lisbon, Berlin, and Dublin are going to look a lot more attractive."
The French government appears particularly keen to lure start-up talent across the Channel, Inc said, noting that French minister for digital affairs, Axelle Lemaire, has mounted a worldwide tour to persuade VCs and entrepreneurs to abandon Britain.
The 5,000 firms on Inc's list average 486 per cent three-year revenue growth, representing a collective $70bn of revenue growth between 2012 and to 2015.
Cloud provider UKCloud was the top-ranking UK outfit - as well as the highest-placed IT services firm - finishing seventh after its sales boomed 3,440 per cent to €40.5m in the three years to 2015.
Comms VAR GCI Network Solutions placed 53rd after growth of 2,416 per cent propelled its sales to €60.7m.
Hardware distributor Widget, now part of CMS Peripherals, also fared well, ranking 1,022nd after its sales leapt 638 per cent to €161.2m.
Co-location and datacentre services provider Datum Datacentres (ranked 642nd on €3m revenue) G-Cloud supplier MDS Technologies (ranked 1,712th on €7.4m revenues), Pulsant (ranked 3,738th on €43.1m revenue) and Oracle partner Red Stack Tech (ranked 3,923rd on €37.5m revenues) also featured in the list.
In total, some 174 IT services firms made the top 5,000.
Stockholm finished behind London in terms of total number of companies per city, at 134, ahead of Bratislava (107), Bucharest (95) and Paris (91).
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