East London Tech City

Technology companies are fast taking up some of the slack in the London property market created by the downsizing of the financial services sector.

IT, telecoms and internet start-up companies doubled their uptake of office space in central London during 2011. In total, the industry took up 1.3m square feet of office space in 2011, compared with 640,000 square feet in 2010, according to data from Knight Frank.

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It might be the most significant meeting of British royals and geeks since Sir Tim Berners-Lee, creator of the web, received his knighthood in 2003.

Thursday evening saw a reception celebrating “innovation through UK entrepreneurship” held at Buckingham Palace, as the great and the good of London’s Silicon Roundabout and beyond gathered to toast digital Britain. Read more

In summer 2008, the FT was the first newspaper to record the new moniker that had been applied to the growing cluster of tech and digital media start-ups around London’s Shoreditch.
Two and a half years later, “Silicon Roundabout” is the centre of a major government growth initiative and entrepreneurs are still flocking to Old Street and its environs.
So the FT returned to the east end to investigate why start-ups are clustering there and what they think of David Cameron’s “Tech City” scheme. Read more