Canary Wharf’s Level39 now “one of world’s most internationally diverse tech hubs”
New report from the accelerator shows 20% rise in European fintech, cyber, retail, and smart cities start-ups with majority of these ran by male founders
Level39, the high-profile European accelerator programme based at Canary Wharf, has revealed data which claims to show that it has become of the “the most internationally diverse tech hubs in the world” with a third of its company members from outside of the UK.
Celebrating its third birthday, the tech programme is now home to 213 companies with 71 of these based outside of the UK, a 20% rise on last year, demonstrating the growing appeal of the UK to entrepreneurs from across the globe.
Its company founders total to 756 and the majority of these are male entrepreneurs (613 male founders compared to 138 female founders), with many of these founders having come to the UK from Western Europe (439). 38 hail from Northern America while 16 come from Oceania.
Member companies include WorldRemit, Aim Brain and Behavox alongside “graduates” to its High Growth floor such as TransferGo and GrowthIntel.
The vast majority (105) of its start-up members are in the fintech sector, followed by smart cities, security, big data, and retail.
In its report, Level39 commented: “Funding for fintech is booming and global investors are pouring in funds. VC firms spent less than $1bn in Q2 2010 to nearly $3bn in Q1 2015 on fintech.
“And our little island nation attracted £312m of fintech investment in the first six months of 2015, compared to just £24m for the whole of 2010.
“Add to that an estimated 61,000 fintech workers within 25 miles of London, compared to 43,000 for New York and only 11,000 for San Francisco-Silicon Valley, and you can see why [the UK] is such a force in fintech.”