London Technology Week: It’s official – London’s the capital of European tech
London is the capital of Europe's tech scene, new research has suggested, with almost three times as many startups choosing the capital than those in the next-most attractive city, Paris.
The research, by EY to mark London Technology Week, which launches today, suggested 1,000 "international tech investment projects" based themselves in London between 2005 and 2014, compared with 381 in Paris – and 853 in the whole of France.
In fact, according to Gordon Innes, chief executive of London & Partners, "over the last decade more international tech investment projects have come to London than Paris, Dublin, Madrid, Amsterdam and Munich combined".
And figures by Oxford Economics showed the number of companies in London's digital sector has grown 46 per cent since the launch of Tech City in 2010. In fact, the city now employs 200,000 people, a 17 per cent increase since Tech City launched.
Mayor of London Boris Johnson said it was "hardly surprising" London's entrepreneurs were "clamouring to be part of the incredible London tech story".
"This sector has flourished beyond recognition in the last five years, creating thousands of jobs and outpacing the rest of the economy. London Technology Week is rightly a celebration of that success. Now we need to continue our work to boost connectivity across the capital and arm the tech stars of the future with the skills they will need to drive forward this valuable industry for years to come.”