Press release
UK Government to Pump 50 Million GBP into London's Tech City
The UK government’s new project will encourage tech start-ups through the construction of a building which will provide collaborative workspaces, an auditorium and resources such as for programming and business skills development. The Mayor of London, Boris Johnson, commented, “our new centre will provide not only a vital resource to nurture upcoming technology and creative superstars from around the world, it will drive huge investment into the capital and help create thousands of jobs.” The UK government has also introduced the ‘entrepreneurs’ visa in an attempt to attract overseas talent and new will-be business owners.
Although Silicon Roundabout, another nickname for Tech City, has a start-up output of only 63% of Silicon Valley, according to its own count, there are over 1,300 companies in the area. Alongside these tech start-ups, London has also become the home to the UK offices of companies such as Google, Microsoft, Amazon and Twitter. While London is the tech-hub and the largest producer of start-ups in the EU, Berlin’s Silicon Allee, a more inexpensive alternative to London, is not far behind.
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