London's 'hard core' tech startups are booming

London's 'hard core' tech startups are booming

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TechHub and Duedil identify 200 hard-core tech startups in London

LONDON: The UK government has identified over 600 tech, digital, and
creative companies in the East London Tech City cluster. Today
TechHub and the Innovative company data startup Duedil have completed
deeper research into London's tech scene and boiled that number down
to find the "real hard core" tech startups.

We've defined tech startups as companies less than 10 years old that
are "product focused" or data / development driven. The data excludes
companies that are digital advertising or creative agencies.

As such we've identify that there are over 200 hard-core tech startups
in London.

In addition East London has seen a 40% year on year rise in company
incorporations and is responsible for 76% of all tech startup growth across
Central London in the past year.

The findings include:

  • EC1, which includes Old St, Clerkenwell, and Farringdon, has experienced a 40% year on year rise in company incorporations and is
    responsible for 76% of all growth across Central London in the past
    year.

  • The tech startup boom began in 2007, with the scene proving remarkably recession-proof. Almost half of these have been founded in
    London since 2008 have been in "Tech City", the area also known
    locally by tech companies as "Silicon Roundabout" which stretches from
    Clearkenwell to Shoreditch and East across London.

  • Venture capital firms Index Ventures, Passion Capital, and The Accelerator Group are the most influential VCs firms in the London
    tech startup scene.

  • Of the 920 associated real tech startup directors, 3 out of 10 are running their 1st company and 1 in 10 are female.

  • The hot sectors for London's tech startups are, unsurprisingly, social networking, app development, and software & game development.

More information:

NOTES:

Launched in July 2010, TechHub is the tech-startup focused coworking
space for tech entrepreneurs, housing over 25 companies and hundreds
of coworking Members. Situated right on 'Silicon Roundabout' in the
Old Street area of London, TechHub plans to expand with spaces in
continental Europe and San Francisco, linking its Members
internationally. It was cofounded by Mike Butcher and Elizabeth
Varley.

Launched in April 2011, Duedil is the largest database of free company
financials in the world. It aggregates over 30 billion data points to
bring you indispensable information on every company & director in the
UK & Ireland, for free