London officially named the capital of European tech
London has become the de-facto leader in the European tech industry, new research suggests.
Data compiled by EY found that 1,000 “international tech investment projects” chose to base themselves in the city between 2005 and 2014.
This was more than three times the number of start-ups which set up in Paris during the same period.
In actual fact, over the course of the last decade London has attracted more tech investment than the French capital, Dublin, Madrid, Munich and Amsterdam combined.
Today, the city is frequently touted as a future rival to America’s Silicon Valley and the sector employs around 200,000 people.
Mayor of London Boris Johnson said it was unsurprising that so many entrepreneurs were seeking premises in suburbs like Shoreditch.
“This sector has flourished beyond recognition in the last five years, creating thousands of jobs and outpacing the rest of the economy.
“Now we need to continue our work to boost connectivity across the capital and arm the tech stars of the future with the skills they will need to drive forward this valuable industry for years to come.”
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