Powered by the ingredients a tech company needs to succeed, it offers access to investment, talent, a tech-savvy consumer base and a thriving business ecosystem.
London's leading tech ecosystem is currently worth £621.5bn, having grown eight times since 2014.
London is Europe's leading tech hub, with more than 600,000 tech jobs open between 2021 and 2022.
Third highest ecommerce spend per capita in Europe. In the UK, online retail sales reached £106bn in 2022.
5. Research and development
Tax incentives for innovations. SMEs get enhanced deduction of 186% of qualifying R&D expenditure.
6. Launch pad
London is the launch pad for the next generation of tech, from green finance to impact technology.
As of 2023, London is home to 1,382 AI companies, with the number of companies doubling every two years.
London leads foreign investment with $19.8bn in VC investment in 2022, more than double that of any other European city.
Key sectors have shown resilience and have large growth potential, including cybersecurity, software as a service and healthtech.
10. Quality of life
London has 3,500+ pubs, 857 art galleries, 215 museums, eight Royal Parks and four UNESCO World Heritage Sites.
Investment into London tech
2023 presents a strong tech scene in London, with 2022 seeing a surge in megarounds ($100m+ rounds) accounting for just under 60% of all funding.
London leads foreign finance investment with $19.8bn in VC investment in 2022, more than double the investment of any other European City.
The capital is producing some of the fastest growing tech companies in the world, with 103 Unicorns now based in London.
World leading tech hubs: London and Bay AreaGet the full report by London & Partners and Dealroom.
Book a free 1:1 consultationFind out how London & Partners can help your business expand to the capital and thrive, from tax and visa information to finding office space.
Explore London's tech sectors and how to start a business in the capital
With diverse networks, outstanding talent and industry clusters on your doorstep, London has an extensive range of world-class sectors that can help your business to thrive.
Industrial Light & Magic, also known as ILM, is an international motion picture visual effects company, acquired by The Walt Disney Company in 2012 as part of its purchase of the Lucasfilm division.
5. Gov.UK, 2023
10. Dealroom, 2023
London & Partners can help you:
- Find the right location for your business.
- Connect with business support networks and trade associations.
- Set up your UK entity quickly and efficiently with support from our partners.