As the UK economy slowly gets back to its feet, technology companies are leading the way with innovative solutions and ambitious projects. Speaking at an event on Old Street, the Mayor of London last week outlined his vision for London’s future as “The tech capital of the world.” Whilst this may seem bold, it is not entirely unfounded. Almost £1.5bn has been invested into over 340 London-based tech companies during the last three years, and there is no shortage of future investors in the capital’s most rapidly growing market.
London currently has more technology companies than any other city in Europe, and is fast becoming the place to be for talented and forward thinking professionals. Alluding to the growing economic influence of the capital, Boris Johnson believes that “There is nowhere to rival London for tech firms to thrive and grow. We have the talent, the investors and the entrepreneurial spirit.” The Mayor’s positivity is justified, after a Government report in December 2013 showed that 27% of all job growth in London now comes from the technology sector, with over half a million Londoners now employed within the industry.
Whilst many may associate London with alternative sectors, the Mayor’s speech is indicative of the evolution taking place within the City. Johnson stated that “London deserves to be known for its technology companies alongside its financial services and tourism.”
The growing stature of London as the technological hub of Europe has coincided with the recent opening of a Trustmarque office in London. The new office is located within a mile of the same Old Street venue visited by the Mayor, in what has been dubbed ‘Tech City’; the UK’s answer to Silicon Valley.
Trustmarque’s expansion into London has seen its technical and commercial consultants move closer to its largest financial services and enterprise clients. The opening of a London office was a further step towards becoming the UK’s leading supplier of technology services and solutions, and there is no better place to be than in amongst the UK’s brightest and most innovative minds.