Britain risks losing Europe's technology crown.

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The author is Chairman and Co-Founder of Founders Forum Group, Founders Factory, and First Minute Capital.

One of the most interesting companies in the world right now is Mistral, an artificial intelligence startup based in Paris. In just one year, it has grown from an idea in the founder's mind to a well-funded company that can compete with competitors like OpenAI.

Some of the world's best international tech talent, including former senior figures from Nvidia and Tesla, have now decided to start their companies in Paris. Last month, French technology conference VivaTech attracted more than 165,000 visitors, a new record.

These are all signs that the French tech ecosystem has reached an inflection point. We're a long way from the frustrating and isolated France of 10 years ago, when you can count the number of thrilling startups on one hand.

What has changed? According to attendees at a small post-VivaTech event we hosted, the answer isn't policy, but something much more powerful: marketing. More specifically, French industry figures credit young President Emmanuel Macron, who has been a passionate advocate for the tech ecosystem since being elected in 2017.

Billionaire telecoms entrepreneur and investor Xavier Niel said the most important change in France's tech sector was the election of a young, pro-business president. The most important thing was not what he actually changed, but the image of France, which he completely changed.

Niels' remarks led to a discussion among attendees, including Sir Tim Berners-Lee, founder of the World Wide Web, Yann LeCun, chief AI scientist at Metas, Charles Gorintin (co-founder of Mistral) and American billionaire investor Jim Breyer. The power of politicians to shape the image of the tech ecosystem, for better or for worse.

Their conversation left me wondering about the priorities of Britain's next government. Will the future Prime Minister shout that Britain is open to entrepreneurship?

The UK still has the most vibrant tech ecosystem in Europe, but it could lose its crown. Some of our national policies have been reversed. For example, entrepreneur relief was reduced from Gordon Brown's lifetime limit of 10 million to 1 million. Governments of late have not always got the message across on the technology front and

A senior British politician recently said that technology has no voting rights. Does this inspire confidence in our country’s future as a global leader in its field? Add to this draconian residency changes, proposed tax increases on private equity, interest rates, onerous worker protection laws, and a crackdown on skilled immigrants, and it's no wonder we're under threat.

Meanwhile, the French are becoming more entrepreneur-friendly. They are emulating some of the UK's pro-entrepreneurship policies, such as the Enterprise Investment Scheme, and are going further in other areas. Policies such as transfer rules allow entrepreneurs to reinvest their capital tax-free within two years. Additionally, the Dutreil Treaty can reduce inheritance taxes for companies by up to 75%. The holding structure also allows for capital protection until dividends are paid. They are also ahead of pension funds investing in private assets, and their stock markets are now in a position to rival the UK's. And favorable policies, such as an offshore tax regime, are more attractive than the UK's four-year policy.

I hope the next UK Prime Minister makes technology-friendly policy decisions. But just as importantly, I want them to recognize the enormous power of being a champion of UK tech on a global stage.

Labor will soon announce its skills policy, and I hope it will be bold, long-term and not populist. For the Conservatives, Chancellor Rishi Sunak may be struggling with some of his party's fanatical supporters, but he's certainly good at technology. He can use this technology to take Britain's innovators to the next level and make the UK a global talent magnet. He has already achieved great success at the UK AI Summit. Britain's entrepreneurs have many ideas, but the country needs to build a stronger, single voice.

London Tech Week takes place this week and we're hosting the annual Founders Forum Global, an event that brings the world's best founders to the UK. This could be an opportunity for the French and UK tech communities to deepen their collaboration and partnerships. But I hope politicians on both sides of the aisle will be inspired to think about ways to amplify the work of the featured companies.

I consider myself one of Britain's biggest cheerleaders. As an immigrant who has chosen to live here for over 45 years, I want to see this country continue to prosper. In my opinion, the best place to start a technology business in Europe is still Europe. Nonetheless, the winds of change are threatening. We cannot be satisfied.

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