Berlin has scored a victory over London in the battle to be the main hub for Europe’s start-up companies after Seedcamp split its flagship event of Europe’s largest support programme for fledgling tech businesses between the two cities.
The incubator programme, which began life with a week-long event at London’s Imperial College in September 2007, will now hold four such gatherings in the UK and German capitals.
After the excitement of Facebook’s $104bn IPO and the subsequent fall in its shares, something more modest is coming onto London’s alternative investment market.
Incadea, an Austrian company that provides software for BMW and other car dealerships, will raise around £17m on Friday, in a stock market float expected to value the company at £47m.
It’s a lot smaller than Facebook, but it is a rare technology listing in London, where the tech IPO market has been considered closed for a long time.
London’s Tech City project got a big boost on Thursday when Google officially opened Campus, its first hub offering start-up technology companies desk space and mentoring.
Opened to great fanfare by George Osborne, chancellor, the seven-storey building will house 100 start-up companies and organisations such as Seedcamp, the technology incubator, and TechHub, the original provider of co-working space in the Shoreditch area.
Time Out, the entertainment reviews and listings group, has acquired Keynoir, a London daily-deals service, for a sum well below its inspiration Groupon’s multi-billion-dollar valuation.
David Cameron, the British prime minister, returned to Shoreditch in East London on Thursday to mark the first anniversary of his Tech City initiative.
One of the biggest challenges facing any tech start-up, particularly in the UK, is recruiting skilled developers.
Rather than sit around waiting for the government’s East London Tech City initiative to bear more fruit than ministerial meet-and-greets, the residents of Shoreditch’s “Silicon Roundabout” are taking matters into their own hands. And yes, it involves a hilariously bad play on words.