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Boris lauds London's booming Tech City

by LLB Editor
11th Nov 11 9:38 am

Boris Johnson has hailed London’s emergence as Europe’s leading digital city after it emerged more than 1,000 high-tech jobs had been created in the capital.

More than 600 companies are located in east London’s Tech City, which runs from the Olympic Stadium to Shoreditch and was established in November last year. The number of businesses choosing to set up a base near ‘Silicon Roundabout’ has almost trebled since the start of the year.

The mayor’s promotional agency London and Partners has assisted 130 new high-tech companies in creating bases in the capital. Some 20 of these companies are located in Tech City, creating approximately 1,300 jobs.

Johnson said: “London’s is leading the charge on Europe’s digital boom. Across the capital hundreds of new technology businesses have emerged with an exciting cluster bursting into life in Tech City. I want to see London continue to shine as a beacon for the world’s best creative minds and entrepreneurs so that this emerging sector benefits the whole of London, delivering new skills, jobs and investment.”

London has the largest cluster of venture capital-backed businesses outside the US, while the capital now has three times more IT and software companies than any other city in Europe.

Gordon Innes, CEO of London and Partners said: “The work that has taken place in east London over the last year has been significant to the city’s economy but also to the overall profile building of London as a business and foreign direct investment destination. With firms such as Amazon, Yammer, Yelp, Twitter, Groupon, and Cisco all singing the praises of London we are adamant to ensure this confidence and buzz is continued in the future.

London’s skilled workforce, connectivity and access to markets have helped to grow its digital economy, while its wealth of other creative industries such as advertising, fashion and film are also an asset.

The technology sector has created more than 1,300 apprenticeship opportunities in the 2009/10 academic year.

A spokesman for Groupon, which now employs almost 700 people after recently moving to Tech City, said: “The UK is a hugely exciting place for digital and creative culture and we welcome this initiative which aims to create a dynamic centre to harness and nurture talent. We launched Groupon UK in 2009, our second international office outside the US, and we now operate from our offices within Tech City.”

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