London is without doubt the hottest startup and technology hub in Europe. Public initiatives such as Tech City UK, together with a significant increase of venture capital fundings (USD 1.4 million in 2014, double as the previous year) have contributed to create and consolidate their blooming digital industry.
Actually, the digital economy has been expanding quickly in the United Kingdom during the last five years and it will continue growing at a rate of 11% each year at least until 2016.
Besides that, the tech industry already creates more than 1 out of 4 new jobs in the British capital, and the app development business is flourishing: The UK accounts for 18% of app developers and 32% of app revenues in EU28, and the app companies are expected to generate 30.000 new jobs during this year. Almost 25% of all the british software companies are dedicated to develop mobile apps.
London is also the leading European city when talking about Big Data, and it’s the world leader in financial technology. There are an estimated 44,000 fintech workers within 25 miles of London, compared to 43,000 for New York and only 11,000 for San Francisco-Silicon Valley.
We have looked for some facts and figures about London’s startup & high tech business and gathered them together in an infographic, take a look and let us know what your thoughts are.
