It's official - London is Europe's tech capital

London Tech Week: UK capital is more popular with start-ups than Paris and Madrid

London

London is the tech capital of Europe, with many more start-ups choosing the city as their home over Paris, Dublin or Madrid, according to research.

More than 1,000 "tech investment projects" started between 2005 and 2014 are based in London, with only 281 in Paris, the next most popular city in Europe, the data from professional services firm EY2 reveals.

Below Paris were Dublin with 162, Madrid with 139 and Amsterdam with 126 start-ups.

According to a report by Oxford Economics, London's digital technology sector has grown by 46 per cent since the Tech City UK programme was launched, with tech companies based in the capital now employing almost 200,000 people.

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

Mayor of London Boris Johnson said: "With our unrivalled mix of investors, talent and creativity it is hardly surprising that tech businesses and entrepreneurs are 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."

Meanwhile, women residing in London are three times more likely to be working at a start-up than those living in Silicon Valley, research from Wayra, Telefonica's digital start-up accelerator, also revealed.

However, it has provided no numbers on the women in tech in London or California, and the research comes at a time when the tech sector is struggling to boost the ratio of women to men in the industry.

Intel pledged $300 million to improve the diversity of its workforce in January, after its diversity report showed that just 24 per cent of employees were women.

A total 70 per cent of Google's employees were male, its own report revealed, but the search giant is launching a pilot programme in London called foundersover50, to support entrepreneurs over the age of 50. The programme will run from London's Google Campus.

Advertisement - Article continues below

Speaking at the launch of London Tech Week, Google UK & Ireland's managing director, Eileen Naughton, said: "Diversity has always been part of Google's mission. Since we opened Campus London in 2012, we've supported a growing community of 42,000 entrepreneurs and developers.

"We strongly believe that online products will only get better and more useful is we invite all segments of society to influence and create technology."

London Technology Week runs from 15-21 June with over 200 events taking place across the city.

"Over the last decade more international tech investment projects have come to London than Paris, Dublin, Madrid, Amsterdam and Munich combined," added Gordon Innes, chief executive of London & Partners.

"It's a testament to London's visionary tech entrepreneurs and international investors who have made London the most exciting place in the world for tech."

Featured Resources

Digitally perfecting the supply chain

How new technologies are being leveraged to transform the manufacturing supply chain

Download now

Three keys to maximise application migration and modernisation success

Harness the benefits that modernised applications can offer

Download now

Your enterprise cloud solutions guide

Infrastructure designed to meet your company's IT needs for next-generation cloud applications

Download now

The 3 approaches of Breach and Attack Simulation technologies

A guide to the nuances of BAS, helping you stay one step ahead of cyber criminals

Download now
Advertisement

Recommended

Visit/business-strategy/digital-transformation/354502/ces-2020-what-happens-in-vegas-is-coming-to-your
digital transformation

CES 2020: What happens in Vegas is coming to your workplace

10 Jan 2020
Visit/business-strategy/32994/cultural-resistance-not-tech-is-holding-innovation-back-oracle-research
Business strategy

Oracle: Cultural resistance, not tech, is holding innovation

13 Feb 2019

Most Popular

Visit/operating-systems/25802/17-windows-10-problems-and-how-to-fix-them
operating systems

17 Windows 10 problems - and how to fix them

13 Jan 2020
Visit/business-strategy/mergers-and-acquisitions/354602/xerox-to-nominate-directors-to-hps-board-reports
mergers and acquisitions

Xerox to nominate directors to HP's board – reports

22 Jan 2020
Visit/microsoft-windows/32066/what-to-do-if-youre-still-running-windows-7
Microsoft Windows

What to do if you're still running Windows 7

14 Jan 2020
Visit/web-browser/30394/what-is-http-error-503-and-how-do-you-fix-it
web browser

What is HTTP error 503 and how do you fix it?

7 Jan 2020