London Is Startup Hub

Posted on 4th June 2013

Following a survey of more than 50,000 entrepreneurs, policy makers and venture capitalists across the world, London was hailed as the top start-up hub in Europe for 2012, while other research highlighted that the UK has over 2,000 open positions in start-ups, mainly in London and Cambridge.

The arrival of the massive Google campus in the East End helped to boost the capital’s reputation as a start-up hub, while the abolition of stamp duty, which hampered investment in small, publicly traded companies, has also contributed.

Hubs are now springing up over the capital, with a new one opening last month in Shepherd’s Bush, the first time an enterprise hub has been located in West London.

Called Fig Village, which stands for Find, Invest, Grow, the area contains a gym and basketball court as well as a large open-plan event space where firms can launch or demonstrate products or hold meetings and networking events.

Meanwhile, London Mayor Boris Johnson is backing a competition that will award £1m to the winning start-up, which must be under 10 years old and have a turnover of less than £1m.

The Million Pound Start-up competition, dubbed the world’s largest start-up competition and organised by Digital Shoreditch, which celebrates the creative, technical and entrepreneurial talent in London, is aimed at any start-up in the above categories that is also prepared to move its business headquarters to London.

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