VROOM CARAVAN UNITED KINGDOMLondon- June
An Overview of the London Startup Ecosystem
London stands apart from other European cities for its unrivalled access to generous investors, affluent consumers and ambitious corporations. With its thriving tech ecosystem and strong financial support, the city can truly compete with Silicon Valley in drawing world-class entrepreneurs.
In fact, London has more tech “unicorns” – businesses valued at more than a $1 billion – than any other European city.
There are between 3,000 and 5,000 active tech startups in London, with a combined value of £34 billion, making London the fourth largest startup ecosystem in the world. For software developers working in the metropolis, London isn’t just about startups – the inner city alone is home to an estimated 40,000 tech companies. A recent parliamentary report estimates that the shortage of digital skills costs the UK economy £63 billion per year. Needless to say, software developers in London are in high demand.
London Startups in Numbers
- 205,325+ startups
- 156+ co-working spaces
- 300,169+ digital jobs
- 70+ startup incubators and accelerators, including Europe’s largest FinTech incubator – Level 39- and Pi Labs, Europe’s First Property Tech accelerator
- $5+ billion in VC financing in 2017
- £56+ billion digital revenue