Completely overlooked in this article is the role of industry partners which make for almost 50% of funding for master/PhD projects in the Tech sector. I personally witnessed these involvements to go down to almost zero now, as literally the week after the referendum companies have called in and said that they have to rethink investment. As the future of the UK is uncertain, so is access to European patents, etc.
The effect of this is delayed, as already running projects are continued, but the fact that no new ones get seeded will be seen for years to come. Opportunities and potential start up companies that would manifest in years are simply not going to happen now. Or at least not in the UK.