FinTech Capital and Hub for Big Data

London, often referred to as the tech capital of Europe, and one of the world’s largest data centre markets, is also a thriving center for software development, and already diving into the acceleration of the IoT. Renowned London business accelerator Startupbootcamp announced in March 2016, a new ‘Internet of Things’ program (for the development of objects that connect to the internet).

The city’s booming start-up scene is considered a magnet for tech entrepreneurs looking to do business in the European Union and a global launch pad for firms aiming to compete with American and Asian web giants, according to the Economic Times, with half of the founders of London's top tech start-ups actually coming from outside Britain.

London is considered a global force in the digital economy*:

• One fifth (nearly 40,000) of the U.K.’s tech businesses are now headquartered in Inner London, according to Stirling Ackroyd.
• Over the next ten years there are expected to be 46,000 digital jobs added in London, London has become the FinTech capital of the world, according to research by Oxford Economics, with more people employed in the sector than any other city worldwide, standing at 44,000 (1,000 more than New York).
• London is a major hub for big data. There are an estimated 54,000 big data workers within 25 miles of London, compared to 57,000 for New York City, and 98,000 for San Francisco/Silicon Valley.

*Tech City U.K.