What Is Tech City And Why Is It Becoming So Prominent?
Tech City is looking to become Europe’s centre for innovation and the prime location for technology and digital companies to base their offices. A few small companies started the trend of technology companies being based around Old Street and have now developed the area to be the heart of Tech City spreading all the way to the Olympic Park in Stratford. It is predicted to become the British Silicon Valley with more than 200 hundred high tech companies already operating their offices from this central London location.
Tech City was kick-started by a government initiative in collaboration with some of the biggest companies in the technology industry, such as Cisco, BT and Google. In 2008 there were only 15 high tech companies based here, which has now expanded to over 200 showing real drive for new businesses around the area. Tech City and some of its biggest clients have been involved with Start-Up Britain to help entrepreneurs move into the area. There is further expected development from UCL, Imperial College and Cisco who have recently announced a research and innovation centre in Tech City, which will act as a magnet for high quality research talent, to create new ideas and innovations.
Larger corporate companies are also deciding to make the move towards TechCity, such as Amazon opening a digital innovation hub there and Yammer (a private social network for businesses) moving into the area. Realising the rapid progression of the area, BT have pushed forward their accelerated superfast broadband to the area and Barclays have created a specialist banking facility to provide specialist banking services to technology companies who have offices in London City.
Following the recent success of the Olympics there is also a high amount of interest in making the Olympic Park a key feature of Tech City, with the media centre being transformed into a high tech centre.
With the investment in Tech City from the government and some of the biggest players in technology taking part, means it is rapidly growing to be the place to work if you work in the technology industry.
Our Moorgate serviced office, resides in the centre of Tech City and is only 10 minutes away from Silicon roundabout, a great location for technology companies who want to be in the action.