Tech analysts are all still chanting Silicon Beach and New York when you ask them regarding which cities are home to the world’s best in tech innovation. You might want to remind them, though, about an underdog city on the other side of the world emerging as the next great in tech and design: London.
Although more popularly known as foreign student’s go-to destination, London is reclaiming another title as the go-to choice of tech start-ups and companies. As of 2013, about 15,000 businesses launched in London – a loud testament to the vibrant start-up scene on this side of the world.
Tech is the Way Up
Start-up activity in London is booming. One in ten needed no start-up funding, and most, if not all, began their businesses with an impressive £2,000. With even cheaper rent and plenty of sources of IT support, London is the place to be for tech start-ups.
A solid testament to the boom in tech in London is MoMa’s close attention to start-ups committing to innovative tech products. They are releasing 17 of the best British-born products, which, according to them, “push the needle in music, making, and transportation”.
Start Cheap, Go Big
A big factor in start-ups trooping all the way to London is finance. While Central London is a coveted area when it comes to business locations and property investment, several smaller districts are up for grabs if you are after cheaper rent, accessibility, and a more relaxed vibe.
Majority of the start-ups that began last year are going through an exuberant growth boom this year. In fact, one in five British mid-size firms is now classified as high-growth. This evidences London’s promise of a bigger space to explore and grow in.
The market is promising, the people are collaborative. Who wouldn’t want to build a business here? London is the place to be now. The innovative Brit tech products not only inspire you to push harder to grow that big, but also inspire you to just keep making.