Central and east-central London continue to be the to destinations for equity finance in UK’s technology sector. And there’s is a clear gap between the UK capital’s leading five boroughs (the City of London, Westminster, Hackney, Camden and Islington) and the rest, according to new research from Beauhurst.
However, the next tier of tech hubs – Lambeth, Southwark and Tower Hamlets – have also been seeing a decent amount of tech equity deals. In fact, “it would seem that software start-ups are starting to permeate south of the Thames,” Beauhurst says.
And London is dominated by software companies. Out of the city’s 7,500 active high-growth businesses, around 3,500 operate in the technology sector, and 3,000 of those are busy developing software. That makes the UK capital different from the country’s two other leading technology hubs as the tech scenes of Oxford and Cambridge focus on hard technology, and on the life sciences in particular.