London’s ‘Tech City’ continues to impress
While expectations have been growing over this summer, the capital has been building a reputation for a number of years now. The number of technology companies in the city has risen from 200 to 1500 in the space of just four years.
The start-up scene which is attracting so much attention is centred on inner-city districts such as Shoreditch, where a growing number of young entrepreneurs are developing businesses within the internet industry and mobile technology sector. This development has received increased support from the Government and attention from the adjacent financial district have helped drive the digital revolution forward.
Among the businesses which have already made a big impression in ‘Tech City’ are games company such as Mind Candy. These home grown efforts have in turn lead to increased interest from American web giants such as Google and Amazon, who have opened offices in the capital. Their backing has helped London in the competition with other tech hotspots such as Berlin and Stockholm, also renowned for their digital expertise. The question of course is whether any one of these European hubs can compete with California – home to global powerhouses like Facebook and Twitter.
It’s true that, thus far, London has not produced products that have taken off in quite the same way. However, with one in three new jobs emerged in the tech sector, there is every reason to think that the city will be in a position to compete for years to come.
Our solicitors in London provide a comprehensive service for business start-ups in the technology sector, including advising on complying with statutory requirements; corporate structures, the terms and conditions of start ups, employment law; securing the start up’s intellectual property, partnership agreements, finance and investment.
To find out how we can help you, if you’re looking to start your own business please contact Claus Andersen, Partner in Corporate and Commercial or John North, Head of Corporate and Commercial on 020 7583 2222.