Published on July 22nd, 2013 | by Jose Vasquez0
The New London Scene for Startup Tech Companies
London’s startup tech company scene has been growing explosively over the past few years, driven by international attention and a thriving startup ecosystem.
Most major cities in the world have some sort of technology business community, though few of them have reached the heights of San Francisco’s Silicon Valley. Still, new economic programs and cultural attention have managed to create thriving communities for startup tech entrepreneurs in many cities throughout the world.
One of the most notable and exciting areas for startup tech company growth is London, as outlined by tech author Katie Fehrenbacher in a recent article on GigaOM. Adopting the name Tech City, London is becoming a hot spot for tech minded businesspeople from countries around the world.
London’s Startup Tech Growth
Since 2010, London has experienced increasing trends of tech specialization and entrepreneurship. The government and affluent individuals have independently invested in tech startup clubs, meetings, and incubators. With new resources and unbridled enthusiasm, many entrepreneurs are trying to seek residence in London for a chance to launch the company idea of a lifetime.
Factors Responsible for the Escalation
London’s tech startup scene didn’t just spontaneously appear and start to grow. It is the result of several interrelated factors working together to create a growing community for entrepreneurs. Some of the most notable factors include:
- Governmental involvement. The U.K. government has invested the equivalent of $70 million to develop Tech City and attract new entrepreneurs to the area.
- Rivalry. Nearby big city Berlin is also experiencing a massive wave of tech company growth, and the two cities have a friendly rivalry to see who can develop the best results.
- Company influence. Google recently opened a London campus, and Facebook has expanded efforts in London as well. Many big tech companies have seen the potential for growth in London and have stepped in to get a piece.
- Pure culture. People are excited, and when people get excited, ideas spread.
What it Means for American Startup Tech Entrepreneurs
Americans don’t necessarily have to move to London to see the results or gain from the explosive tech scene. Current entrepreneurs can reach out to London minds and work together for a shared enterprise. New entrepreneurs can look to the root factors that make London such a great place for techies to call home, and find those root factors in other cities throughout the United States. Finding a great city to call home for your startup tech company can make all the difference.
Check out the original story by Katie Fehrenbacher