London is one of the places most people in the UK and worldwide go to for opportunities. It’s a cosmopolitan city where ideas shared are influenced by different cultural backgrounds. Through this, strong talents and skills have been brewed to produce the most innovative ideas.
It’s rated the most technologically advanced city in Europe. In the world, it’s number two after New York. This is a massive milestone for England, the UK and Europe. Efforts have been made, particularly in the UK, to ensure that most of the country has fast internet connectivity so that more cities can develop further.
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When London Started Working Towards Achieving The Status Of An Attractive Tech Hub
The hype around smartphones and newly launched social media companies, such as Snapchat and Instagram, in 2010 inspired Prime Minister David Cameron to turn East London into a tech hub. He developed and implemented his plan, and the city started seeing rapid growth in the Tech Industry.
London became attractive to large and small Tech companies, and they started flocking to the scene. Today, 86% of small businesses in the city have high digital capacities. Innovative centres like Plexal have been built for new entrepreneurs to study, work and collaborate. Hence we see many software, online casinos and affiliate companies growing.
Tech companies encourage each other too, despite competitiveness. Online casino operators offer exclusive and optimised games – like red 32 slots – and are routinely willing to embrace and be ready for new technologies that can take their services to the next level. So isn’t just the UK government willing tech investment, but other companies too.
Foreign companies also want to be part of this growth, including US Tech giants like Apple and Microsoft, who’ve found a home in England’s capital. Google’s £1 billion state-of-the-art headquarters are set to open in 2024.
Reasons London Is An Attractive Tech Hub
Here are the reasons London has moved steps up the ladder to Europe’s number one technology-advanced city and one of the world’s most attractive tech hubs:
Home To Great Tech Talent
The UK is one of the most significant tech talent countries in Europe. London is considered to have played a major role in creating more startups for the continent. It is home to the highest number of unicorns and has tech power stations like Tech City and Silicon Roundabout.
Hosts Tech Industry Giants
It’s an attractive city for both technology specialists and companies. There are over 357,900 tech workers in London. Other than startups, tech industry giants are spread out all around the capital. These include Facebook, Yoox and Net-a-Porter offices. If you’re new in the industry, you can easily find a mentor and a company to work for in this cosmopolitan city.
Dominates The European Tech Investments
London contributes more to Europe’s tech investments. It contributes 72% to the £2.49 billion raised by tech organisations. As a result, venture capitalists never stop investing in London’s tech startups because they have greater chances of making it, and investors will earn billions from their initial investments.
Affordable Cost Of Living
East London is an excellent starting point for new businesses as property generally is affordable. You can find a low commercial vacancy rate for your startup. Also, some of the tech centres for studying, working and collaboration are located here. So you wouldn’t struggle to build relationships and collaborate with fellow tech industry people.
London comprises many tech companies, and much of its population works in this industry. It’s home to many unicorns, tech power centres and industry giants. It’s thus considered the most technologically advanced city in Europe.
It contributes 70% of the funds raised by Tech firms in Europe and has also been recognised by foreign tech companies as a comfortable spot to invest in. Hence big tech companies from the US, like Facebook, Google and Microsoft, have their offices physically located in different parts of England’s capital.