Richard Muirhead, General Partner of London, UK-based OpenOcean Venture Capital, commented on October, 2, 2016’s Article 50 deadline announcement by UK PM Theresa May.
“Let the negotiation games begin. This morning’s announcement of when Article 50 will be triggered allows the UK digital industry to move forward with more clarity but perhaps no more certainty. We now know a probable “Brexit” date, but we still don’t know what the full effects might be.
“There will be no initial changes on how the economy is to be run aside from the fact we’ve significantly weakened our negotiating power with the rest of the world. However, as we know, EU tech companies have long been operating and built in a distributed fashion – developers in the Baltics and a head office in London, for example. What remains certain is that the digital bonds the UK’s startup community has across Europe will not be easily broken.
“Our digital economy will continue to operate across borders and we will seek worthy exceptions to immigrate and emigrate talent where required.”