In the aftermath of Britain’s monumental decision to leave the European Union, the Berlin Senator for Economics and Technology has reportedly been busy reaching out to startups and global funds in London.
As the Brexit dust settles, many of Britain’s tech players may look to Germany’s startup capital as a new place to set up shop.
“Those companies who have headquarters in London are aware that they need to be in the EU,” Senator Cordelia Yzer told BBC News.
“We had competition in the last two or three years between London and Berlin. I am convinced that more funds will now make the decision in favor of Berlin.”
Yzer said Germany is ready to take advantage of Brexit and that it’s more than fair for it to do so.
Both commentators and economists predict there could be a mass migration of companies out of London as a result of Brexit and the time is now to find a new place to settle.
“People are already asking, ‘What is the alternative to London?'” Travis Todd, CEO of Silicon Allee, explained to BBC News.
“If it’s going to be much harder to get investment in London, to hire people in London, you are going to see a lot of those companies moving to places where they can do international business,” he continued.
Silicon Allee is currently building a six-floor campus designed specifically for startup companies located in Berlin, and it will house an estimated 2,000 people.
It seems as though Berlin is primed and ready to step up and lure tech firms its way. The bad news for Britain may be an opportunity for Berlin, Politico reported, noting that Berlin’s fast-growing tech scene may be a prime landing spot for uneasy tech startups post-Brexit.