According to a report in the Financial Times, hundreds of entrepreneurs are descending upon London for a three-day digital networking event.
This is the latest in a string of government efforts to promote the profile of Tech City and London’s answer to the global digital revolution that finds its home in Silicon Valley, California.
“For the UK government to support something like the entrepreneur visa made a big difference,” says Pakistani entrepreneur Ali Ahmed.
“It is easier to network in the Valley but it is harder to get the access to capital, it is harder to break through the noise with investors. The important thing about London is the good access to capital.”
Sentiments like these are welcomed in the City, but not all entrepreneurs are so eager to plant roots in London. This event that has coincided with the launch of the Paralympic Games is offering free refreshments and networking opportunities in Hackney House in a bid to lure start-ups into the area.
“Even if a company is just creating one or two new jobs, if enough companies do it, it is a big economic boost,” American entrepreneur Rose Adkins told the Financial Times. “They (the government) have made it incredibly easy for me to set up.”