Canadian tech hub One Eleven opens up first international campus in London
Scale-up innovation hub One Eleven has made its first leap outside of Canada, landing in Shoreditch with a new space for London's tech firms.
The North American hub's first international site is just off the City's Silicon Roundabout, a stone's throw from the former offices of the likes of Monzo and Starling Bank.
One Eleven chief executive Dean Hopkins said the business chose London for its next hub due to a gap that he sees in the market in serving tech businesses.
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"London offers incredible support for early stage businesses as they start out, and once they reach series A funding – but there simply isn’t enough of an infrastructure out there at the moment to help companies at that crucial in-between stage," he said.
The tech hub will offer resident firms services such as human resources and finance help, as well as marketing tools and technology support.
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One Eleven's Toronto and Ottawa bases have supported 70 member companies since the business launched in 2013, helping them to raise more than $500m (£387.9m) at a collective valuation of over $2bn.
"Having established a blueprint for the success of our model in Toronto, London was a natural next step when we looked to continue our own growth journey outside of Canada. We’re a long way from home, but we see exactly the same challenges facing scale-ups here as there are in Toronto," added Hopkins.