London is rapidly becoming the Silicon Valley of Europe. As we can see by major tech companies spending millions to ensure their staff have the best possible facilities – Apple / GoogleDMZ articles – London is the only place to be for the best and brightest of the tech world.
The capital was ranked as the leading destination in Europe for technology-based industries, beating Paris and Berlin into second and third places respectively, while the broader Thames Valley area also ranks in the top 20 technology clusters in Europe according to research by property company CBRE.
Amazingly, through Brexit pain and Trump victories, employment across Europe in technology rose by 9% from 2015 to 2016. It is expected to continue growing over the next five years, outperforming all other sectors.
The City has already established itself the FinTech capital of the world. DMZ tracks this raise using a number of datapoints: Government backing – George Osborne confirmed funding for six new mutlidisciplinary research centers to nurture the UK Digital Economy. Talent – when the crash of 2008 hit, this meant many Bankers were left out of work. Yet the savvy entrepreneurs, moved to the digital world. Finally, Corporation tax cuts will see it move from 20% to 18% which is drawing in worldwide investors to tap into London’s vast talent.
A few examples of the FinTech companies of the future are: Osper, which aspires to instill the next generation with the right kind of money-saving values from a young age. Founded by Alick Varma, who formerly worked at Spotify and Mendeley, the small team aims to inspire good habits in young people beyond offering a standard banking service. PixelPin is hopefully making the tedious “forgot password?” routine a thing of the past, allowing the user to choose four allocated points on a photograph to log in. Creating a personalised and user-friendly way to authenticate yourself online, their technology reduces fraud and increases activity with security up to a banking level standard.
DMZ thinks, with London’s vibrant social scene, Government backing to foreign investment and large pool of talent, it is obvious to see what tech firms are jumping at the chance to find the best property to woo their future employees.