Last Friday Techcrunch published a great post on the recent success of Tech City, the heart of London’s startup scene. According to data compiled by TechHub, and DueDil there are now 93 are true product companies in the region, up from 16 in 2008. The number of product startups across London is 211, so getting on for half of the activity is in Tech City.
The two other stats I like from this infographic are:
- The big increase in the number of startups founded since 2006/2007 across London and in Tech City
- That only three in ten of the directors are ‘running their first company’ – I’m a little unclear as to whether that means ‘founder directors’ or all directors, but either way it implies that we now have a wealth of serial entrepreneurs at work
The government has said that there as many as 600 startups in the area when the definition is expanded beyond product companies to include agencies and the like. This figure is based on self-reported data and is probably on the high side (see GigaOM for more detail) but all agree that Tech City is growing fast and is now buzzing in a way it wasn’t 2-3 years ago.