US AI firm secures Leeds base

A total of 40 jobs are to be created in Leeds by a US company which specialises in software for artificial intelligence products.

ThinCI US has moved into a workspace on Cross Street in Leeds, which is expected to create 40 jobs when fully established. It comes as the UK Government said that a  total of 359 high-tech jobs are to be created from overseas investment into the UK’s thriving FinTech, information technology and advanced engineering sectors.

Dinakar Munagalam, CEO of ThinCI, said: “The Department for International Trade was very helpful guiding us through the unfamiliar regulatory network for setting up a new venture in the UK. This assistance allowed up to get establish quickly and our newly employed engineers and programmers productive in record time.

£What attracted ThinCI to the UK is its talent pool of engineers and programmers that could immediately begin providing the chip design and software development assistance we needed. We found that talent in Leeds and Kings Langley.”

Eleven separate foreign investments are expected to create the 359 jobs across Leeds, London, Newcastle and Reading.

International Trade Secretary, Dr Liam Fox said: “It’s easy to see why the UK is Europe’s top destination for foreign direct investment. Our country is home to world leading research and development capability, as well as a culture of innovation.”

Total venture capital investment in UK tech companies since 2016 has surpassed £5bn, and was more than Germany, Spain, France and Ireland combined last year.

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