Start-ups struggle to find office space in East London’s Tech City. The area is currently receiving a lot of attention from the government and big companies.
New start ups are finding office space is hard to attain in London’s Tech City as the area receives a lot of attention from the government and large businesses.
There are now approximately 600 companies based in Tech City in the East End, but this growth is said to make office space in East London hard to come across.
David Cameron stated in November last year that his government wanted Tech City to rival Silicon Valley and so far it is getting a lot of recognition, especially as the Prime Minister visited this week. The development has even attracted attention from overseas companies, some opening UK office space in East London off of the back of Tech City.
This was the case for U.S company, Yammer. The company’s European general manager, George Ell said: “Yammer’s first decision was to have the European office in London, the second decision was to decide where to go.
“The Tech City initiative was the catalyst for our move to East London. It provides a nucleus which drives momentum, opportunities to share and learn from others. It also attracts a talent pool.”
Mr Ell also added that upon their move to the capital, they were given support in locating office space in East London, finding PR and accessing communities.
The government is now encouraging companies to start up further to the east of London, but some are saying that the suggested areas, like Dalton and Hackney Wick, are not ideal as they are not as thriving as Shoreditch and other areas around Tech City.
Founder of Solid State Group and Hoxton Mix, Matt Evans said that the area may now need government intervention to ensure that larger company investments do not prevent Tech City from attracting start-ups.