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A CASE STUDY
WARNING: This is a sample document created and is not an
official document of London & Partners. Sources not included.
A WORLD CLASS TECH HUB
A clear mission by the
Right now, Silicon Valley is the leading place in the world
for high-tech growth and innovation. But there’s no reason
why it has to be so predominant.…
Here’s our vision for East London tech city -
a hub that stretches from Shoreditch and Old Street to the
This is what local businesses are saying they need. What
part can you play in making it happen?” I have to say: the
response has been overwhelming.
— David Cameron, PM, 2012
The TechCity Initiative
Set to create £12 billion of economic activity &
46,000 new jobs over the next 10 years from today
• Initiative started in 2010
• Aimed at putting London as a central focal point for Technology
• Government Appointed Eric van der Kleij to head up the
• Created three key initiatives:
• Future Fifty Program for the top 50 companies
• Tech City Cluster Alliance to connect with the rest of the
• £1m Launchpad Competition
• Supported by Financial Drivers including SEIS, EIS and R&D
• Corporation Tax is the lowest of the G7 and the G20
• Partnered with key universities including Oxford and Cambridge
Timeline of Success
a series of more
than 200 events
taking place across
Google sets up
in Silicon Roundabout
End of 2010!
End of 2011!
CISCO sets up
in Silicon Roundabout
Sign to stay in
53% of FinTech
funded were in UK
4 Prime Locations
Clerkenwell | Shoreditch | Whitechapel | Canary Wharf
TechCity is under global pressure to perform
New York, USA
Berlin has been the most talked-about
(and talked-up) startup hub in Europe for
several years. Successful exits incl.:
Jamba in 2004 ($273 million/£180
million), Brands4Friends (€150 million/
£129 million) are evidence that Berlin can
New York City’s ‘Silicon Alley’ is the
digital hub that looks and feels closest to
In- ner East London. Silicon Alley was
originally a well-defined corridor in lower
Manhattan along Broadway, from the
Flatiron District up to SoHo; as in
Silicon Valley is the world’s leading, and
best-known high-tech region. It is a city-region
running the length of the Santa
Clara Valley in the Southern San
Francisco Bay Area, from San Jose in the
South to parts of San Francisco in the
North (Joint Venture Silicon Valley, 2012).
With companies like 3M, AMD, Apple,
AT&T, Dell, Evernote, Facebook, Google,
HP, IBM, Intel, Nvidia, and PayPal
inhabiting the city, Austin is also known
as the Silicon Hills.
Silicon Hills London,
Austin TX, USA
Other models include Cap Digital (Paris), Santiago, Multi-Media Super Corridor (Malyasia), Tel Avi & Silicon Wadi
Key drivers which helped
Access to Finance
Government funds &
finance incentives make up
the bulk of support
The Patent Box Scheme
Lowering Corporation Tax to 10% on profits from the development and
exploitation of patents.
SEIS & EIS Schemes Provides 50% and 30% respectively income tax
relief for UK taxpayers investing in qualifying startups
VC & Angels
Offering VCs and Angels the ability to invest into startups with minimal
risk and high potential exits creates a favourable financial market.
Access to Talent
Government support, top
universities and access to
Increasing the ease of Tier 1 & 2 visas has helped significantly to bring
in top talent from across the world.!
Access to top universities
Oxford, Cambridge, LSE, LBS are all within reach of London making it a
prime spot for bright minds of the future.
Doorstep to Europe
Europe is accessible in 1-2hours, enabling an influx of skilled talent to
joint Tech City startups.
Access to Entrepreneurs
A clear strategy supports
bright ideas from creative
and driven individuals
Attracting top entrepreneurs and fostering the right
environment to utilise all these key drivers is critical to the
success of TechCity as a whole.
The Creative Hub
London has always been a central creative melting pot of
talent and creativity. Advertising, Film, Games and Music all
come from London’s hub.
Access to London
Location - The right place
to focus technology
Easy Transport Access
Offices are within walking distance; bike, bus and tube all connect
TechCity to the rest of London.!
High Speed Internet
The UK Government is spending £853m on super high speed broadband
to connect TechCity. Intel also gave access to super computers for
startups and businesses alike.
Cheap office space with great amenities help positive work environments
A clear strategy was established from a
single mission to tackle key issues and
leverage London’s unique strengths to
build a world class TechCity
Financial Capital for Tech
empower London to
establish new businesses
The UK Government has fostered a financial
environment which heavily favours entrepreneurs and
investors alike to facilitate the establishment of startups
The result is a series of financial mechanisms which
have been critical to the success of Tech City.
The rate of R&D tax credit for companies with fewer than
500 employees has been increased to 225%
The Patent Box Scheme
Lowering Corporation Tax to 10% on profits from the
development and exploitation of patents and certain
other intellectual property in the UK has been introduced
The Seed Enterprise Investment Scheme (SEIS)
Provides 50% income tax relief for UK taxpayers
investing in qualifying startups for the first £100,000
The Enterprise Investment Scheme (EIS)
Offering 30% income tax relief for private investors –
bringing the scheme in line with the relief available in
contributions into venture capital trusts
From Seed to Exit
Numerous funds and
Ventures ensure a steady
flow of new Startups
Leading ventures and investment firms have setup UK
based funds to ensure a long term capital market.
The financial support of London’s Finance Sector only
facilitates deal flow, a key factor in London’s success.
Investment Facilities include!
• Venture Arms
• Microsoft Ventures
• Google Ventures
• Accell Partners
• MMC Ventures
• DN Capital
• Index Ventures
• Balderton Capital
44% of the TechCity Pulse survey result aim to
grow their business by 100% in the next 12 months
Invested in 2014
30% since 2013
Brains & Brawn
Attracting the right talent is key
London attracts the best of the best in a number of fields. As a
hub of international and local talent, it connects entrepreneurs,
creatives, finance, law and services together in one location.
From stars such as Michael acton Smith to Paulina Bosec,
everyone is flocking to TechCity. The conditions for
entrepreneurship in the UK are optimum: a recent Nectar survey
found that 80% of young people in Britain now say they would like
to start their own business in the next five years.
Jobs Jobs Jobs!
With already 15,091 employees merely in the top 50 tech city companies,
Tech City is set to boom in 2014. Over 46,000 new jobs will be created the
next 10 years making London TechCity one of the best places for future
Recent research supported by Bloomberg suggests the tech and
information sector in London, Southeast and East England –
including Oxford and Cambridge – is growing faster than that of
Accelerators & CoWorking
London features some of the best Accelerators and CoWorking
spaces any city could image.
Planting the Seed!
From seed funding to later stages, Accelerator programs make up
some of London’s best assets in delivering new jobs, businesses
and growth potential year on year.
Multiple programs fun, with specific areas of expertise such as
L39’s Fin Tech speciality or Collider’s Marketing & Ad Tech focus.
London has it all and provides the incubating space to empower
young minds to develop the technologies of tomorrow supported
by a free flowing market with the right environment to flourish.
Sharing is Caring!
Featuring over 65+ CoWorking Spaces, London remains one of
the easiest and cheapest office space to rent for startups.
It can host over 72,000+ seats, with office space, Skype booths,
great connections and leading startups such as last.fm, dibbz,
Facebook, Google, Cisco, Intel, SongKick, King, Mind Candy.!
Not forgetting the great amount of events and networking that only
help to foster a strong community of knowledge sharing and
Backed by London’s official
London & Partners is the official
promotional company for London. Our
specialist business network can help you:
• Create a powerful business case for
expanding to London
• Find the best location
• Recruit the right people
• Create the perfect office
• Build a network of partners
• Enjoy London life
Who We Are
Market opportunity +
Ease of doing business +
Rich and diverse ecosystem
= Mission: Accomplished
1 2 3 4 5 6
๏ Cross Industry
๏ Deregulation of
for Skilled Workers
๏ Initiative Strategy
๏ Scenario Planning
๏ Location Scouting
L&P’s key steps for your own TechCity
Key drivers form the pillars of a strong foundation for your TechCity
๏ Flexible Policy
research lead by
๏ Regular Review of
๏ Access to
๏ Cheap Office
๏ CoWorking Space
๏ Proximity to
๏ Access To
๏ Drive uptake of
๏ Job fairs
๏ Support local
๏ Tax Credit
๏ R&D Credit
๏ Invite High Net