A recent study by Start-up Britain has revealed a record breaking year for UK start-ups in 2014. The tech industry in particular has skyrocketed, with the number of new businesses rising 40% year-on-year. This has resulted in a seven year high for the sector according to research from KPMG. The epicentre of activity is undoubtedly London with 184,671 businesses started last year alone. What is perhaps even more encouraging is that 82% of start-ups in the tech sector have survived their first year.
The growth of start-ups in London is clearly an unstoppable force as the city’s reputation as an entrepreneurial powerhouse continues to develop, strengthening its position as one of the most sought-after places to do business in the world.
In order to support this, Instant Offices has created a Google Maps mashup highlighting some of the best start-up accelerators, office space options and the hottest start-ups in London at the moment.
Hottest Start-ups in London
Finance
- TransferWise: Foreign currency transfer service.
- Funding Circle: Peer-to-peer platform that enables individuals to lend to small businesses.
- The Currency Cloud: Payment engine designed for simple international payments and transfers.
- GoCardless: Low-cost solution for accepting regular payments.
- Azimo: Digital wallet within your Facebook profile.
- Duedil: Free source of financial information on companies, suppliers and competitors.
Technology
- Huddle: Enterprise cloud collaboration and content management.
- Swiftkey: Language technology experts.
- Hailo: Links licensed cab drivers with would-be passengers via smartphone app.
- Worldremit: International money transfer.
- Early Stage: Real-time, multi-screen digital ad platform.
- Makeshift: Creators of specialised software and services.
Fashion, Design & Retail
- Made.com: Online own-design furniture shop.
- Medicanimal: Retailer of veterinary products and animal supplies.
- Farfetch: Online marketplace for independent boutiques around the world.
- Deliveroo: Premium food delivery service.
- Lyst Studios: Social fashion shopping site.
- Secret Escapes: Members-only travel flash sale site.
- Yplan: Curates events in your city tonight and allows you to purchase tickets to these events.
- EDITD: Provides users with fashion industry information and data.
- Milkster: Social shopping site featuring products posted by users.
- Makies: Doll design and production company.
- Rise Art: Connects buyers with art pieces they love.
- Farfetch: Online marketplace for independent boutiques globally.
Featured Accelerators and Incubators
- Forward Partners: Forward Partners is a catalyst for ecommerce start-ups, offering a unique combination of funding and expertise from hands-on experts.
- Seedcamp: With locations in London and Berlin and a £3 million fund, Seedcamp offers a three-month accelerator programme. This programme offers mentorship from the likes of Dave McClure, Eric Ries (a number of angel investors), VCs, individuals from Google, Facebook, Skype, Box, and more. Seedcamp is currently Europe’s largest tech accelerator.
- Healthbox: Healthbox is an accelerator that grows companies in health care. It does this by encouraging active collaboration between inventors, entrepreneurs and the healthcare industry.
- BBC Worldwide Labs: BBC Worldwide Labs select six start-ups a year to join the programme and integrates them into the BBC ecosystem. They provide necessary infrastructure including prime office space at BBC Worldwide and mentoring by internal and external industry experts. The dedicated Labs team helps to facilitate discussions amongst the various business units and brands at BBC Worldwide, encouraging collaboration and partnerships.
- The Bakery: The Bakery brings together the right entrepreneurs – uniquely able and incentivised to deliver ground breaking innovation – with the large organisations ready to provide the fuel in their collaborative environment.
- Bethnal Green Venture: Bethnal Green Ventures is an accelerator programme designed specifically for people who want to change the world using technology. They invest in and support great teams with new ideas to help build solutions to social and environmental problems by means of an intensive three-month programme.
Top Areas for Start-ups in London
- Tech City: East London’s Tech City makes up part of East End between Old Street and Queen Elizabeth Park. With over 3000 technology firms, it is the third largest tech start-up hub in the world and offers businesses unparalleled access to likeminded individuals, accelerators, coworking space and networking opportunities. Recent gentrification of the area has made it an expensive choice for start-ups with limited capital, but there is a large number of shared workspaces for a more cost effective alternative to private suites.
- Shoreditch: Popular with tech firms, Shoreditch has been up and coming for a number of years with many creative and design companies. Retaining its industrial charm, a number of warehouses and industrial buildings in the area have been converted into luxury flats and office space to accommodate entrepreneurs and professionals.
- Canary Wharf: Canary Wharf has become a popular choice for investment banks and finance start-ups. It has also started to attract a number of tech companies in search of easy access to financial clients. The district is now one of the UK’s two main financial centres.
- West London: West London is becoming increasingly popular with start-ups as a more affordable alternative to the East. The West End is home to many businesses in the media industry, particularly in Soho and Noho. Businesses struggling to find meeting space in Central and East London have started to make the move to West London as B2B tech becomes increasingly popular in the area.
London’s thriving start-up community has created a melting pot of companies in a range of industries. From regular meetups and events to a host of accelerators and incubators, there is always a place for entrepreneurs to come together and share ideas.
London has a great choice of shared and coworking spaces to support up and coming businesses, often with affordable and collaborative environments. This means that London might just be the perfect city to help grow your £1 million idea. If you’re looking for office space in London or would simply like to find out more about the city, you can contact Instant Offices’ specialist local consultants, who would be happy to offer you expert advice.
If you’re a start-up and would like to be featured, please email us at [email protected].
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