15,000 New Start Ups In Tech City

Sam Shead of TechWorld.com takes a look at the startling number of start ups making Tech City their home, but questions whether these figures tell the full story…

“London’s Silicon Roundabout attracted more than 15,000 new companies last year in a move that makes it the most popular start-up destination in the UK, according to figures released this week.

Accountancy group UHY Hacker Young found that the EC1V postcode around Old Street and on the fringe of the City of London borough witnessed 15,720 new businesses open their doors in the year leading up to March 31st, easily outstripping any other area in the UK.

The cluster of start-ups in the area that has become known as Tech City has been boosted by government efforts to promote it as a centre for new technology businesses, the research claims. Indeed, the government is spending £50m of taxpayer’s money on redeveloping the area around Old Street in an effort to make it a more attractive location to open an office.”

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