Boris Johnson announced his plans for the future of London’s thriving tech sector at TechHub’s new co-working space this morning.
The Mayor of London also announced a new group of ambassadors, including Gerard Grech, CEO of Tech City UK, and Mind Candy’s Michael Acton Smith and Kathryn Parsons CEO of Decoded, who will promote the growth of the capital’s tech sector.
“Vorsprung durch TechHub”
The Mayor heralded London as the tech capital of Europe, mocking Germany for being “jealous,” and said “Vorsprung durch TechHub”.
We have more incubators and accelerators here in London that in the whole of Germany.We have the universities… we’ve got the lunar pool of London. People just want to be here.
They’re attracted by the sheer agglomeration of talent. They come for the vibe in London – the vibe, which not even we politicians can do anything to spoil.
The backstory
Earlier this year, we exclusively revealed that Tech City UK’s had widened its remit to tech clusters around the country, handing over responsibility for promotion and foreign direct investment to the Mayor’s office.
London & Partners, the mayor’s promotional organisation for the city will promote the growth of the tech cluster in London.
This morning’s announcement signified a reshuffle of the government’s management of London’s tech sector. Kit Malthouse, Deputy Mayor for Business and Enterprise explained how this reorganisation:
What we’re really doing is ramping up our efforts on promotion of London and the centre of the UK cluster.
The government is now moving to a more national approach. But we think its very important that there’s a weight of activity here in London.
The real question then, is what changes the Mayor’s management of the tech cluster will bring to the city’s growing tech cluster.
Foreign investment
Kit Malthouse didn’t confirm whether the Mayor was committing any funding to the tech cluster.
However, he explained that the London Mayor’s Office was devoting resources to the tech cluster through London & Partners:
It will deal with all Foreign Direct Investment. For instance, I myself am going to the bay in March, talking to risk capital providers about coming to London for tech and for life sciences
He also said that the Mayor’s Office was “tarting up” Old Street Roundabout and other redevelopments around Silicon Roundabout.
A hands-off approach
The Deputy Mayor argued that the government had to maintain a hands-off approach to allow the tech cluster to grow.
One of the things about this sector is that if the government sits on it, it will kill it. It’s a very delicate garden of flowers. We have to fundamentally let them do their thing.
Helping and assisting and putting some effort behind the drive and momentum of tech city is about as far as we go.
What’s changed?
Essentially, today’s announcement marked the change of responsibilities from Tech City UK to London & Partners.
London & Partners will primarily play a promotional role, and intends to be hands-off with the city’s growing tech sector.
Though figureheads and government bodies have changed, little seems to have disturbed the growth of London’s tech city.