Watch Out Silicon Valley, London Is Calling

London Tech Week has just wrapped up and they have some exciting news. As of 2021, London is the leading city in the world for innovation behind Silicon Valley. This is an incredible leap. One that would make Her Royal Highness quite satisfied. 

Quite satisfied, indeed. 

According to the annual Global Startup Ecosystem Report 2021, revealed at Tech Week, London has reached the number two spot right behind Silicon Valley for the most innovative cities in the world. 

Just how innovative? Well, according to the report, London has incredible access to funding. There are record levels of venture capital tech investment just this year alone. $13.3 billion from January to July. That blows last year’s $10.9 billion raised out of the water. 

The Big Smoke is home to over 1,300 VC firms – more than any other European city. On top of that, it’s home to four of the world’s top ten universities. Meaning that they have a wealth of talent from which to pull from. 

Where Royalty Lives

“London is a fantastic place to grow and scale a global tech business. We celebrate the diverse international nature of our tech ecosystem and it is great to see out thriving startup community being recognized in this report. Its tech sector has a pivotal role to play as we rebuild from the pandemic, and I am excited to be a part of London Tech Week to discuss how our tech community can work with other startups to solve global challenges. In the face of Brexit and the … pandemic, London has demonstrated its resilience and proven itself once again to be one of the best places globally for tech innovations and startups.” -Sadiq Khan, Mayor of London. 

London has been a major world city for two millennia. It was the capital of commerce, leadership, arts, education, health care and so much more. 

The United Kingdom has had world influence rise and fall over the centuries. As the world changed, so did London. Right now, tech industries are booming. 

The Swinging City

“Today’s report findings and the record levels of investment into London tech so far this year offers further proof that London is not only Europe’s largest tech hub, it’s now a major player on the global stage. For startups and high growth companies looking at alternatives to Silicon Valley, London has access to levels of funding, talent, and customers all in one city. As one of the world’s leading hubs for innovation, we see a huge opportunity to collaborate with other investment startup hubs and it’s fantastic to see global tech leaders, investors, and policy makers coming together for this year’s London Tech Week.” – Janet Coyle, Managing Director for Business at London and Partners.

Everyone talks about Silicon Valley. There’s even an HBO series called “Silicon Valley.” Do you think there’d be an HBO series about the home of royalty’s tech scene? Probably not. Know why? Because the historic city offers more than just “fake it til you make it” Steve Jobs wannabes (ahem Elizabeth Holmes ahem). 

England’s capital city has a very rich history and great access to a variety of industries and talent. Because of that, the city is booming in an area most associated with younger, hipper cities. 

The Square Mile

“London attracts and is home to so many investors and so much investment capital because of its world-leading ecosystem and remarkable entrepreneurs. With world-class tech talent and sector expertise, London has an abundance of innovative entrepreneurs, startups, and scale ups which generate long term value accretion. Today’s report is further confirmation that London’s tech sector will continue to compete and be a leader on the global stage.” – Eileen Burbudge, Partner at London VC firm, Passion Capital. 

In short, watch out Silicon Valley, London’s Calling.