London has seen a record £450m invested in the tech sector during Q1 2015, plus a boom in the number of companies setting up operations here, research from London & Partners has revealed.
Just 10 years ago, 26 companies opted to move from across the world here to London, compared to the last financial year, where 108 created a presence in the Capital, including many global tech innovators.
Gordon Innes, chief executive of London & Partners, said: “Over the last decade foreign investment in London has gone through the roof and the tech sector is now leading the way. Companies from all over the globe want to establish a base here because we have the best access to finance and markets, an incredibly talented workforce and overall first-class conditions in which to do business.”
Startups including Gett, Homejoy, ParkJockey, Strava, Musikki and Wowzer have all headed to London to tap into UK talent and grow their operations across Europe.
“London was a natural place for ParkJockey to expand its business as we develop new international opportunities,” said Kamal Rajput, UK general manager.
“London is an enormous market for us and we have been delighted with the welcoming business environment that has enabled us to expand here and succeed.”
Since the Mayor’s branding agency London & Partners was formed back in 2011, the company believes it has brought 954 companies to the Capital, which are worth £331m to the economy and have created 17,293 jobs. This is expected to reach 31,000 jobs when the companies have been here for three years.