Just around the past decade, anybody with mention of tech businesses was somewhat presumptuous to base their imaginings around the towering hubs at Silicon Valley, CA. However, as more and more European ventures are taking the advent of tech powered industries seriously, some European cities are quickly entering the race towards the ultimate tech nirvana. Our primary focus throughout this article will be centered on the tech hubs sprouting around the East London blocks.
East London houses almost every supporting infrastructure for tech startups – from venture capitalists to advertising companies besides our traditional tech fronts. Since 2010, there has a staggering rise of 46% in the growth of tech industry that now employs more than 200,000 employees. This growth in the industry could not have come at an opportune time when European leaders are struggling to push the economy from the stagnancy of recession (courtesy of http://www.ft.com/cms/s/0/876bcd12-140a-11e5-9bc5-00144feabdc0.html#axzz3qkMqdkAs).
According to a research conducted by EY, London has attracted more projects in the recent years than its European rivals at the same field. One reason for such lead in the industry is the consequence of being more open to non-European businesses looking for technological breakthroughs for their own ventures.
The whole scene has exploded in a booming industry with certain areas around focusing on varying interest. For instance, the Croydon Tech City towards the south of the city is emerging hub for game development businesses. National statistics also claims that the borough has the highest density of startup bubble than any other regions.
To house the growing number of talents occupying the desks at the tech spots, the city has undergone remodeling, that has reduced housing cost and has enabled realtors to lease top grade, cheaper office spaces to budding ventures.
This block also houses some of the FutureFifty ventures, as spotted by U.K. government that enjoyed an increase of 63% in capital generation from international ventures in 2015. Government funding has also enabled businesses to scale up according to demand for services, creating a flexible, dynamic model that harbours greater profitability for future. While not wholly dominated by the big ventures, smaller and independent start ups are also emerging with newer services and product lines to carve out newer needs for consumers. Such mechanics of need generation in order to promote businesses is often powered by crafty, subtle ad campaigns, for which, there are options to choose from around the block.
Tech industries are fueled by expert engineers and Imperial’s newer campus at White City will serve as an excellent breeding ground for future potentials. As mentioned before on the subdivisions of area based on unique industry service addressee, it has become customary for these niche areas to form their own “clans” surrounding their workspace.
The tight knit tech city of East London has proved that with careful planning and right infrastructure, it is possible to revamp an existing city block into a well of fortune driven by tech savvy individuals, working beyond the average weekly hours to promote the “next big thing”.