London tech scene growing faster than California
Tech employee numbers greater in London and surrounding regions than US tech city
Tech businesses in London, the South East and East Anglia are growing faster in terms of employee numbers than those in California, new research has revealed today.
Published by South Mountain Economics and Bloomberg Philanthropies, the research reports a greater number of people working in the tech and information sector in the capital and surrounding areas than in all of California, with 774,000 jobs compared to 692,000.
The study also reports a greater number of financial technology (FinTech) companies in London than New York or the San Francisco area; news that chimes with separate findings published today by London & Partners which suggests the capital’s digital tech sector will grow by 5.1% per annum.
The research also coincides with the start of the first ever London Technology Week which looks to champion the capital as a global tech hub London, with a programme of talks, events and demonstrations taking place from today.
Discussing the findings, former New York mayor, Michael Bloomberg, said:
“10 years ago, no one thought of New York or London as a competitor to Silicon Valley – but today, more and more tech companies are looking to our cities as places to launch and grow, because they offer such diversity, creative talent, and high quality of life.”