Update 28th November: We’ve uploaded our full list of London startups to the blog, including links to both company websites and their Duedil profiles.
Update 14th November: Thank you to all who have contacted us with your feedback and passed this on via twitter, we’ve been amazed at the response. Based upon some of the feedback we have received we have widened the scope of what constitutes a ‘tech’ startup. This mainly relates to e-commerce and online retail. Our list of tech startups in Central London has now grown to 250, an additional 39, which includes several that have been submitted to us. Our infographic has been updated accordingly, though statistically there was little difference.
TechHub and Duedil identify hard-core tech startups in London
The Government has identified over 600 tech, digital, and creative companies, but how many are real tech startups?
We’ve defined tech startups as companies less than ten years old that are product focused or data / development driven.
On November 4th 2010 David Cameron announced his vision for Silicon Valley East London, extending from Old Street to Stratford, along with policy announcements including a reform of visas and intellectual property law, and £200m investment fund. They have followed this up by introducing new entrepreneur visas and accepting all 10 recommendations from the Hargreaves’ IP law review.
Cameron today highlighted a 225% rise in the research and development tax credit offered to small and medium sized enterprises, a doubling of capital gains tax relief to £10m for start-up owners, and promised to cut red tape for business owners.
Since the announcement the Government has been keen to promote the growing numbers of firms in Tech City area, identifying a broad 600+ digital companies.
We have identified 250 high growth, technology oriented companies in Central London, the bulk of which are clustered around the Old Street roundabout area. It is too early to tell if this will flow out to the Olympic Park.
The East London postcode of EC1, comprising the bulk of Tech City, including Old St, Clerkenwell, and Farringdon, has experienced a 40% year on year rise in company incorporations and is responsible for 76% of all growth across Central London in the past year.
The startup boom began in 2007, with the tech scene proving remarkably recession-proof. Almost half of these have been founded in London since 2008 have been in Tech City.
Of the 1040 associated directors, 3 out of 10 are running their 1st company and 1 in 10 are female.
Index Ventures, Passion Capital, Eden Ventures, and The Accelerator Group are the most influential venture capital firms in the London tech startup scene.
The hot industries, unsurprisingly, are e-commerce, app development, and social networking.
This is the first of our reviews into the startup scene. Information for this survey was sourced from a variety of sources and we make no claims to it being definitive. Some startups were not included because of a lack of available information.
To give you an idea of the methodology used in our infographic analysis – companies had to be registered in the UK, less than 10 years old, and be product focused or data / development driven. International startups were included if they had a presence in London.
If you would like to add your company to our startup map, amend your details, or comment, please contact andrew[at]duedil[dot]com.
Note: Some markers on the map below will have more than one company listed, so look out for the clickable page numbers in the pop-up information windows.