Some evidence of the UKs growing stature as a centre for technology and entrepreneurialism

By March 22, 2013London

It’s Friday and I’m going to indulge myself in one of my favourite passtimes – talking up the success of London and the UK as centres for technology and entrepreneurs. You may have seen the following data in the Standard earlier this week:

  • The internet contributes 8% to the UK’s GDP, higher than that of any other G20 nation
  • We spend more online than other nations too – projected to be 25% of retail sales by 2016, 2x the level of Germany, our nearest competitor
  • London is a magnet for talent – over a third of the population here was born outside of the UK. The thriving art, fashion and media scenes make London an attractive place to live for many entrepreneurs and developers.
  • Major US internet companies are growing the size fo their London dev teams – Facebook, Google and Amazon have all taken new spaces so they can grow their teams here
  • There is strong government support for startups in the UK – ranging from world leading tax schemes like EIS to the entrepreneur’s via to strong support for the east London tech cluster
  • Number of east London tech startups has grown from 200 to 1,300 in the last three years [note: this stat looks dubious to me, but I’m sure it is directionally correct]
  • 61,300 new businesses launched in London in 2011, up from 51,000 in 2009

In short, London and the UK are great venues for technology startups and an increasing number of entrepreneurs are taking advantage of what we have to offer. Happy days.

  • Yep it’s great to be a Londoner these days! Here are some other impressive
    stats that help compare and contrast the traction of the London
    start-up scene vs Berlin, Stockholm and Paris. Based on an analysis
    of the 1,465 jobs available in European VC-backed companies
    listed on the Ventureloop database between Jan 15 and Feb 28 2013:

    1 – the UK came first with c.900 jobs (and 49% were in the Greater London

    2- Germany 2nd with c.290 jobs

    3- Sweden 3rd with c.150 jobs

    4- the Netherlands 4th with c.70 jobs

    5- and France 5th with c.70 jobs

    The UK is also the most diversified eco-system, with no industry segment
    representing more than 16% of job creation – when Sweden had two
    segments each contributing more than 27% (Digital games and Digital
    music) -> more on:

  • That’s very interesting data, thanks.