Tech City – it all started with a cluster of creatives in what was once a scrappy corner of East London. Then came the startups, attracted by cheap rents and a community of entrepreneurs who all believed in building the companies of the future.
Then, in 2010, everything changed.
Prime Minister David Cameron unveiled “Tech City”, a bold new brand that put London’s burgeoning tech scene on a level playing field with Silicon Valley.
What started as an idea behind the doors of No.10 Downing St has now become a globally recognised success.
The figures speak for themselves, hundreds of thousands of new businesses, countless jobs and a series of successful exits.
Tonight Tech City UK marks its 5th birthday, here’s why we believe you should celebrate.
1. It’s everywhere
Believe the hype. Tech City is not just about East London, and that’s something to be celebrated.
Over in Canary Wharf there’s Level39, the biggest space in Europe devoted to the future of finance. And soon the site of the former Olympic Park will host both the London College of Fashion and HereEast, one of the largest spaces for hardware makers the city has ever seen.
Even Croydon, once the butt of so many jokes, is now shaping up to be a credible place to start a new tech business. Great ideas spread quickly.
2. There’s a genuine community of people who care
Community matters. When you’re a founder you need to be around like-minded people to bounce ideas off and chew the fat with when things aren’t going the way you wanted.
So many people have given countless hours of their time to help make Tech City the success it is.
Take the 3beards, the best events organisers in town.
Or TechBikers, the annual charity bike ride from Paris to London. Now in its fifth year, 120 cyclists have ridden 960km and raised £170,000 for Room to Read, helping children with literacy.
This community gives back like no other.
3. It got the attention of the world’s biggest brands
Google, Amazon, Facebook, Twitter, Salesforce to name just a few examples. It takes serious clout to get companies like these on board.
And this isn’t just about sales offices. These giants are building products, right here in London because we have the right talent on tap.
Cheers to that.
4. Everybody’s talking about it
Wins like these get people talking about London on the world stage.
Take this example I heard from one of the most senior people in the Hong Kong government:
“One day we hope to build something as successful as London’s Tech City”
When you get a ringing endorsement like that, you know you’ve made it.
5. Unlike the Valley, Tech City is for everyone
I’m often asked about Tech City and hear the same question:
“When will London be like Silicon Valley?”
My answer hasn’t changed.
Tech City doesn’t need to be the Valley.
Yes, we can’t match the US for venture capital millions or billion dollar companies, but we have one thing the Valley will never have: Tech City is in London, one of the most multicultural, diverse cities on the planet.
When your customers are on your doorstep, you make products for real people, not for an elite.
In London there’s no clique. No matter your background, you can be a part of the community. It doesn’t matter if you work for a big business or a startup, the door really is always open.
And that alone is worth celebrating.
For more unicorns, cats and cultural imperialism, read Alex’s Agenda.
The post Tech City is 5, here’s why you should care appeared first on The Memo.