By Ben Chernoff
New figures published by UKTN have revealed that London became home to more than 18,000 new tech start-ups in 2021 – an increase of 94 per cent on the previous year.
The new data puts the UK’s capital ahead of many other European cities when it comes to the incorporation of new tech firms.
Pulled from the Government’s registrar, Companies house, the study found that the number of London tech start-ups surged from 9,572 in 2020 to 18,549 in 2021.
In comparison, the UK in total only saw 38,240 tech companies created in 2021, which means that London accounted for 48.5 per cent of all new tech start-ups in the country.
Outside of the dominance of London, Cambridge, Manchester and Edinburgh were all important hubs for technology companies and together they accounted for the overall growth of tech start-ups in the UK, which saw incorporations across the nation increase by 62 per cent in the last year.
This latest evidence backs up previous research from March, which found that the UK became the third country in the world to have a tech industry valued at $1 trillion.
The sudden rise of technology businesses in Britain puts it well ahead of its European competitors, with the total value of tech in the UK more than double its closest continental rival, Germany. Thinking of making London the home of your next tech start-up? Find out how we can help you make the most of what the capital and UK have to offer by contacting us