Figures from the business and technology sectors have paid tribute to Mike Lynch after the tech mogul’s death was confirmed on Thursday.

Mr Lynch was confirmed to have died aged 59 after a luxury yacht, Bayesian, sank off the coast of Sicily.

He was the creator of software giant Autonomy, which grew to become one of the most prominent tech firms on the planet.

David Tabizel, Mr Lynch’s co-founder at Autonomy, said: “It looks like we’ve lost our dear Dr Mike Lynch. RIP. The world has lost a genius. His family have lost a giant of a man.”

As well as Autonomy, Mr Lynch was on the board of several prominent institutions including the BBC and the British Library, and was a fellow of the Royal Academy of Engineering.

Tim Davie, BBC director-general, said: “Wise, generous and insightful, he played a particularly key role in accelerating our transformation as a digital organisation.”

The academy paid tribute to its “mentor, donor and former council member” on Thursday.

In a statement, it said: “The trustee board, fellows and staff of the Royal Academy of Engineering are deeply saddened to learn of the death of Mike Lynch and send our profound condolences to his family.”

Eleanor Lightbody, chief executive of AI legal firm Luminance which Mr Lynch set up, said: “Mike was a visionary unlike any other.

“He had a unique ability to spot the next technological revolution and solve tomorrow’s challenges before others even knew they were coming.

“Beyond that, it was his connection to people that made him special.

“He had a steadfast belief in the UK’s technology sector, in our incredible academic institutions, and in the talent he took the time to spot and nurture, regardless of background or discipline.

“Above all, Mike was a kind man who had an impact on many and will be sorely missed.

“I feel honoured to have known him, worked with him and learnt from him over the years.

“The UK has lost someone with the means, authority, knowledge and drive to propel the UK into technological leadership, but his legacy will live on in all of the extraordinary businesses he built and mentored, as well as his family who are in my thoughts.”

Suranga Chandratillake, partner at Balderton, a venture capital firm in London, said: “Mike Lynch’s PhD at Cambridge put him at the very forefront of modern artificial intelligence.

“More than just technology, however, Mike contributed vastly to its commercialisation.

“Mike didn’t just invent things, he built products and companies.

“By my count, he founded over 10 technology companies and was instrumental in the building of three that became multi-billion dollar public companies (Autonomy, blinkx and Darktrace) – a personal track record without equal in the UK’s technology ecosystem.

“I worked for Mike for five years and he then served on my board at blinkx for close to a decade.

“I can share that he was an unfailingly supportive mentor who challenged and supported in equal measure.

“Years before Covid, he mastered hybrid work, splitting his time between Cambridge (where the tech was built), London (where it was sold) and Suffolk (which he loved dearly), and juggled leading his work with being a loving and much-loved dad and husband.

“He was famously fiercely competitive but, to his friends, equally fiercely loyal and always ready for a cup of tea and a chat.

“The loss to the UK’s technology ecosystem is incalculable but I am as sad to lose an old friend and all my thoughts are with his wonderful family who are facing an unthinkable double tragedy at this time.”

A Darktrace spokesperson said: “We are shocked and saddened by the news confirming the death of Mike Lynch and the other victims of this terrible tragedy.

“Mike was a founding investor in Darktrace, an active champion of the UK’s technology sector and a committed husband and father. His loss will be felt by many. Our thoughts are with his family and all the families who have lost loved ones in this awful event.”

Family friend Patrick Jacob said: “Mike’s ability to identify and solve complex problems was phenomenal as was his ability to simplify and explain them.

“As a friend, Mike was never dull and always ready for a lively debate on almost any topic conducted with intelligence and convivial vigour.

“He could be challenging and direct but I never came away from seeing him without feeling my life was enriched by the experience.”

Martina King, chief executive of Featurespace, a fraud prevention company, said: “It is a high statistical probability that Featurespace wouldn’t be a thriving technology company without Mike.

“Our co-founders, Professor Bill Fitzgerald and Dave Excell, were inspired by Mike’s combination of intellect and commercial acumen.

“They benefited from his friendship and guidance.

“Mike’s personal investment in Featurespace supported the development of an invention that has proved fundamental in the progress of AI and he served as a Non-Executive Director for over 10 years from 2008 – 2019.

“Mike was a true champion of the UK technology sector, including the need for greater diversity and advocated for many female leaders, including me.

“Cambridge, the technology sector, colleagues and friends will be unable to calculate the loss of this truly extraordinary, intellectual, inventive, humorous and generous man. He will be sorely and deeply missed.”

The chief executive of the British Library, Sir Roly Keating, said: “Mike’s extraordinary understanding of technology, combined with his passion for the British Library’s mission to share knowledge, made him an invaluable member of our board.

“He was thoughtful, perceptive and supportive, and will be deeply missed by all of us who worked with him in his time here.”

Meanwhile, the chairman of the Francis Crick Institute described Mike Lynch as a “human being of great ability”.

Mr Lynch was a member of the Create The Change fundraising board, set up by Cancer Research UK and which helped fund the building of the Institute, a biomedical research centre.

Lord John Browne said: “Mike Lynch should be remembered as the person who catalysed a breed of deep tech entrepreneurs in the UK.

“His ideas and his personal vision were a powerful contribution to science and technology in both Britain and globally.

Michelle Mitchell, chief executive of Cancer Research UK, said: “We are deeply saddened to hear of the death of Mike Lynch and all those who have been affected by this tragedy.

“Together with his wife, Angela, Mike was a valued donor to Cancer Research UK and a member of the board for our Create The Change campaign, which funded the building of the Francis Crick Institute.

Technology industry group TechUK added to the tributes.

A spokesman said: “Mike Lynch was a hugely significant and pioneering figure in the UK technology sector.”

President of the Royal Society, Sir Adrian Smith, said: “Mike Lynch was an exceptional scientist, mathematician and entrepreneur, who turned his knowledge of Bayesian statistics and pattern recognition into innovative and successful technology companies.

“As president of the Royal Society, a fellow statistician and friend, I offer my deepest condolences to Mike’s family, and all of those affected by this tragic news.”