Tech Week Proves a Success

The week, which was used by brands to announce new business ventures, as well as to showcase what the UK has to offer in-terms of the technology sector, especially London’s Tech City, has been deemed a success, with the Mayor of London praising the event, by stating: "London Technology Week has exceeded all expectations and provided us with the opportunity to fly the flag for a tech sector that is rapidly becoming a world leader."

However, whilst the figures published following the event have highlighted that the number of visitors exceeded expectations, the week itself provided a great insight into technological developments we can expect over the coming years, how the technology sector in the UK is performing, where it is going, and the areas where it is currently being held back.

According to speakers during the week, whilst the UK’s tech sector is booming – particularly within London, with the help of Tech City, there are a number of factors which are holding it back.

These were highlighted as being:

• Housing costs – which are squeezing an "entrepreneurial class that does not have deep pockets, unless support by a venture capital benefactor"
• The Internet – due to London not only suffering from mobile dead sport, but also due to not having top-of-the-line fibre-optic connection across all boroughs
• Lack of "commercial exploitation" – according to one speaker, whilst the UK is great at making breakthroughs, it lacks commercial exploitation, instead allowing other countries to do this, and therefore take over.

Whilst London Technology Week has overall been considered a success, and has highlighted the continuing growth of the tech sector within London, for those looking to start a new adventure by starting their own business – whether in the tech sector or other sectors – our commercial and corporate lawyers at Royds can assist by providing tailored legal advice.

Our solicitors in London provide a comprehensive service for business start-ups, 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.