To coincide with London Technology Week, South Mountain Economics issued their report on the state of London’s digital and technology scene. The facts they highlighted were quite staggering.
The growth of London’s tech/info sector from 2009 to 2013 was more than triple the previous four years and this expansion has accounted for 30 percent of job gains in the capital since 2009. The areas that are dominating are big data and fintech (there are 44,000 fin tech workers in London compared to 43,000 in New York).
London added 36,000 tech/info jobs over the past year, roughly about equal to the combined gain in tech/info jobs in San Francisco-Silicon Valley, New York City, and the Boston metro area.
The report was broadly supportive of policies driven by the government, the GLA and organisations like Tech City UK. They highlighted there are many problems which need to be addressed for that growth to continue. These include the availability of capital, the ever growing need for new talent, the rising cost of office space and housing and the lack of affordable and flexible infrastructure to help startups and new and growing businesses reach their full potential. Have you faced similar issues? Tweet out to us @WorkspaceGroup.
The report also mentioned many of the startups which we’ve featured on the Workspace and Club Workspace blogs including WireWax, the video tagging system.
Read the report here.
Tell us what you think about the report on Twitter @WorkspaceGroup