2. A LITTLE BIT ABOUT ME
Technology
and
Innovation
New
Company
(!!)
Silicon
Valley Bank
Microsoft
Bizspark /
Ventures
TrayportInterregnum
Datamonitor
PwC
Consulting
Industry Advisory Boards
7. THE LONDON STORY
2008-2010
• Community /
Grassroots Driven
• Early Adopters
2010-2012
• Government gets
involved
• Mid-Adopters
2012 - 2014
• Corporates and
Incubators “pile in”
• New CoWorking
Spaces
• Urban Planning
• Significant Policy
changes
2015-
• The age of the
“EuroCorn”
• Scale-up is the new
“Startup”
• Established *and*
Emerging Funds
• World Class
industries ie FinTech
• London Stock
Exchange
8. SEEDS ARE SOWN (2008 -10)
Incubators /
Accelerators /
CoWorking
Government /
Policy
Other (Advisors
etc)
Investors (VC,
Angels, Other)
Corporates
• AWS - 2006
• Microsoft - 2008
• IBM - 2010
• Established Funds
• Seedcamp – est 2007
Technology
and
Innovation
Entrepreneur
Community /
Grassroots
Universities and
Students
• Moo / Dopplr /Songkick /
Mind Candy / Huddle /
Skimlinks
• Cheap property (Old Street
Roundabout)
• TechCrunch Europe Launches
• Drinktank
• Minibar
• FOWA
• UCL
• Imperial Innovations
• NACUE Launch
9. TAKING SHAPE (2010 – 12)
Incubators /
Accelerators /
CoWorking
Government /
Policy
Other (Advisors
etc)
• Tech City UK Launch
• Entrepreneur Visa
• Number 10 focus
• TechHub
• Trampery
• Bakery
• Innovation Warehouse
• Advisors starting to look at
market
Technology
and
Innovation
Entrepreneur
Investors (VC,
Angels, Other)
Corporates
Community /
Grassroots
Universities and
Students
• 3Beards
• Meetups extraordinaire
• Events every single night
• Google Campus
• Telefonica WAYRA
• Amazon
• Facebook
• Silicon Valley Bank
• Entrepreneur First
• Collider
• And more….
• UCL
• Goldsmiths University
• Imperial Innovations
• Multiple new companies
• Transferwise
• Yplan
• Duedil
10. HYPER GROWTH– 2013-14
Technology
and
Innovation
Entrepreneur
Investors (VC,
Angels, Other)
Incubators /
Accelerators/
CoWorking
Corporates
Government /
Policy
Community /
Grassroots
Universities and
Students
Other (Advisors
etc)
• Law Firm Tech Practices
• Accountant Tech Practices
• R&D Tax Credit Firms
• Privately run trade missions
• Tech Conferences
• Urban Planning
• UCL
• Goldsmiths University
• Imperial Innovations
• LBS
• LSE
• London Tech Week
• CodeClub
• Makers Academy
• General Assembly
• TCUK
• Entrepreneur Visa
• London & Partners
• Second Home
• WeWork
• Canary Wharf, L39
• Rainmaking Loft
• British Land
• John Lewis
• Unilever
• Aviva
• Barclays
• Santander
• GCV
• Established VCs raise more
• Connect Ventures
• Playfair Capital
• Whitestar VC
• Mosaic
• Seedcamp
• Techstars
• “BRITCORNS!!”
• TCUK Future Fifty
• London Stock Exchange Elite
• Entrepreneur *Career*
Choice
13. Note: data from July’14
Source: LinkedIn
Note: data from July’14
Source: LinkedIn
HUB FOR TECH
£26bn direct
economic impact
1 in 9 jobs are
digital
34,000 tech
companies
155, 600
employees
368,000 IT
Professionals
28,000 Software
Developers
10,000 Data
Scientists
16,850 Computer
Science Students
Source: London & Partners
London attracts the best talent from all over Europe and the world, as well as having more world-class universities than any other city and being a beacon for world-class IT related research
Leading global tech companies have now established development centres in the city to produce new products – including Google (700 engineers), Facebook and Yammer (both second largest engineering operations outside Silicon Valley) Skype and Amazon. The organisations are attracted not only by London’s large pool of talented engineers and developers, but also the city’s expertise in the creative, design and artistic fields.
London's/SE England's technology and information sector is growing faster than in California, with 382,000 people working in computing, gaming, telecoms, film and media, according to a recent report by South Mountain Economics. Over the next decade. London’s digital tech sector is expected to grow at 5.1 per cent per year, creating an additional £12 billion of economic activity and 46,000 new jobs in the capital by 2024.
Note: data from July’14
Source: LinkedIn
Startups often need low cost office space – indeed that’s why they originally moved into places like Tech City.
Examples include:
TechHub, The Trampery, Central Working, Hoxton Mix, Innovation Warehouse among others all offer low cost desks (between £200-300 per month), plus support, events, access to finance and the networking community. Companies like moo.com sublet desks when they had more space than they needed, an example was TweetDeck which was sold to Twitter.
Full company summaries:
Collider -Collider is an accelerator dedicated to marketing and advertising start-ups, who help brands and agencies identify, understand, engage with and sell to their consumers. Year-long programme with £50k initial investment in 10 different companies with opportunities for five companies to receive a further £100k. Located on South Bank. http://collider.io/about/
Idea London –UCL, DC Thomson and Cisco’s joint project to support emerging digital innovation. Based in Shoreditch, focus on UK-based companies. http://www.idea-london.co.uk/
Eco Machines Incubator Ltd. –Focus on hardware start-ups working on power generation, energy efficiency, water, waste, transport etc.. £100k in possible funding available. Based in St Katherine’s Docks. http://www.ecomachinesincubator.com/contact-us/
Startup Bootcamp – Run a medley of global acceleration programs, with different industry focuses in different cities. Currently (May 2015) accepting applications for a FinTech London acceleration program. http://www.startupbootcamp.org/welcome.html
Start Tank –a PayPal company which provides a free co-working space & mentoring rather than funding. One location in London, one in Chennai, India. https://london.starttank.com/
Level 39 –Europe’s largest accelerator space for finance, retail and future cities technology companies. Occupying the entire 39th floor of the iconic One Canada Square building, and established by Canary Wharf Group plc, Level39 was opened in March 2013 by Boris Johnson, Mayor of London, and has quickly become an important part of London’s booming Tech City.
Central Working – Co-working space, 4 locations in London (Bloomsbury, City, Shoreditch, Whitechapel) and one in Manchester. The Whitechapel office have Microsoft Ventures and Tech Stars based in their space. http://centralworking.com/ Offer a Touchdown service of £149 for 80 hours a month for one person
Edtech Incubator –Incubated by the Education Foundation, looking to accelerate UK education technology growth (beginning in summer 2015). Charing Cross area. http://www.edtechuk.com/
Traveltech Lab –supported by Gatwick, powered by L&P & the Trampery. 30 desks’ worth of co-working space, located Riverside. £400/month per desk (ex VAT). http://www.traveltechlab.london/
Techstars –American company offering $118,000 in seed investment in return for 7-10% equity. Locations in Berlin, Boston etc. and London (Farringdon area). http://www.techstars.com/
The Bakery –works on behalf of big, well-established companies (BMW, Virgin, Panasonic) to create innovation. (Address: 230 City Road, EC1V 2TT) http://thebakerylondon.com/
Wayra –Acceleration program offering up to $50k. Started in Spain/Latin America in 2011 as Telefonica initiative. http://wayra.co/uk
Rainmaking Loft – Offices in Berlin, Copenhagen, London. Co-working space to hire for £349/month a desk. St Katherine’s Docks, space officially opened Oct 2013, also home to FinTech incubator http://www.rainmakingloft.com/london/about/
Wework – Founded in 2011 in NYC, co-working space to rent, but growing massively with a number of offices open/opening in London. https://www.wework.com/
Jlab - £20000 initial investment with another potential £100000 up for grabs. Mentorship, access to John Lewis propriety etc. 12 week programme. http://jlab.co.uk/about/
Impact Hub – Globally focused, social good incubator. Based in Vienna, but four London branches (Westminster, King’s Cross, Islington, Brixton). Quite alternative, pretty much anyone can open one if they want. http://www.impacthub.net/
The Trampery – Founded in 2009 in Shoreditch, “designs and operates spaces for entrepreneurship, creativity and innovation”. Have to apply for membership.
http://www.thetrampery.com/
Microsoft Ventures –Seven accelerators around the world. 12-week programme based out of Earl’s Street, East London. More about mentorship & contacts than funding. https://www.microsoftventures.com/locations/London
Seedcamp – pan-European Shoreditch based accelerator launched in May 2007 by a group of 30 European investors that provides startups with seed money, mentorship, office space and support over a yearlong program. http://seedcamp.com/
Barclays Accelerator – powered by Techstars. 13 week programme in Whitechapel with potential investment opportunities from Techstars. http://www.barclaysaccelerator.com/location-london.html
London is the leading European centre for scale ups
The UK has produced 11 technology companies worth more than $1 billion since 2000, including London-based firms JustEat, ASOS and Zoopla.
In the first half of 2014, the London Stock Exchange saw 17 tech IPOs, raising £1.58 billion – more than raised in all of 2013.
London is also a place to scale a business, with companies like Funding Circle seeing significant investment. This is facilitated by…
$1.1B IN 2005 (SABRE acquired lastminute.com)
$280M IN 2007 (CBS acquired Last.fm)
$850M IN 2008 (AOL acquired Bebo)
$2.4B IN 2010 (IPO)
$317M IN 2011 (Amazon acquired Lovefilm)
$45M in 2011 (Twitter acquired Tweetdeck)
£105M in 2013 (ION Group acquired FFastFill)
$100M IN 2013 (Reed Elsevier acquired 20 smaller companies)
$30M IN 2013 (Yahoo acquired Summly)
$500M in 2014 (Zynga acquired Naturalmotion)
$400M in 2014 (Google acquired Deepmind)
Sources
Sabre - sales of £1.1bn http://www.independent.co.uk/news/business/news/the-interview-sabre-rattler-who-dropped-a-surprise-lastminute-bomb-6146257.html
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/privateequity/10798479/Just-Eat-transfers-markets-one-month-after-IPO.html
http://www.lseg.com/resources/media-centre/press-releases/london-stock-exchange-welcomes-zoopla-property-group-main-market-ipo
http://www.ft.com/cms/s/0/b38cddc2-8a28-11e3-abc4-00144feab7de.html#axzz3MM0zkNMe
http://www.theguardian.com/technology/2014/jan/27/google-acquires-uk-artificial-intelligence-startup-deepmind
Travelfusion acquired by Chinese Ctrip in January for $160million.
Deepmind –British AI company founded in London in 2011, acquired by Google in 2014
Zoopla -Zoopla provides accurate house price estimates available in the UK market by leveraging user-generated data. Went public in June 2014. 4 acquisitions.
Just Eat – The world's leader in online takeaway ordering. First company to list on London Stock Exchange’s High Growth Segment. IPO raises £360 million, valuing JUST EAT at £1.47 billion.
Citymapper –develop mobile applications, originally based on Open Data provided by Transport for London. Now available in 14 cities.
SwiftKey –SwiftKey upgrades your smartphone keyboard making it faster and easier to type. SwiftKey’s free apps for Android and iPhone use Artificial Intelligence to learn from each user, accurately autocorrecting and predicting their next word. Has combined VC funding of more than $20 million.
Funding Circle -Peer-to-peer lending service which allows savers to lend money directly to small and medium sized businesses. More than £600m ($1bn) has been lent to 8,000 businesses in the UK and USA.
London is home to some of the world’s most innovative and creative businesses in convergence sectors such as FinTech, AdTech and RetailTech and others like FashionTech, CyberTech, EdTech and MedTech
London attracts more international companies from the ICT, Electronics, Financial Services, and Creative Industries than any other European city resulting in unparalleled opportunities for convergence and access to expertise.
The fact that over 50% of companies in the Sunday Times 2014 Tech Track 100 list are located in London is testament to the innovative culture & opportunity created in the capital, with companies operating in a number of the new emerging tech clusters such as AdTech, FinTech and MedTech. Two great examples in the AdTech space are Unruly, a video advertising platform which helps video ads “go viral”, has tracked 430bn video views, secured £15m in investment and in 2013 sales hit £19.3m. Skimlinks is a marketing technology developer which allows journalists, publishers and bloggers to earn revenue from the products they write about and draws 50% of its revenues (gross in 2013 of £13.3m) from America. Both have a female co-founder.