Published on November 14, 2014
The tech industry is becoming the fastest growing industry in the UK. Recent studies have shown the tech industry in London, the southeast and east of England to be growing at a faster rate than Silicon Valley, California. Silicon Valley, once home to trendy, new, small start-ups, has become the tech capital of the world, home to the world’s largest technology corporations such as Apple, Google, Facebook, Netflix, Intel, and eBay, just to name a few. This same cluster of technology companies in a small area has recently become evident in London over the past decade. This area has now been dubbed ‘Tech City’.
Cambridge Science Park
Just an hour outside of London is Cambridge Science Park. This is a concentration of science and technology related companies which was founded by Trinity College in 1970 making it the oldest science park in the United Kingdom. It’s access to a highly educated population working in related fields and the concentration of the science and technology firms led to the growth of this science park. This phenomenon can now be seen in the UK’s capital city.
‘Tech City’ is located in Central and East London mainly occupying the Shoreditch area. This tech boom in this area is so established that since 2009, the Old Street roundabout has been informally referred to as the ‘Silicon roundabout’. The UK government has taken a real interest in the development of the Technology sector with its focus on particular areas. This government interest and support will be sure to spark the fire of this rapidly growing industry in the UK. ‘Tech City’ also receives a lot of interest from the private sector. In comparison to Cambridge Science Park, Tech City benefits from a stronger level of investment from London based venture capital firms. Small start-ups were originally attracted to the area because of the low costs; however, this factor is heading in the wrong direction for many smaller firms hoping to set up in the area. As smaller firms are bought up by larger companies, more and more business is attracted to the area, providing jobs and boosting the economy. If you are looking for a way to break into the tech sector then this is where to start. The large number of small start-ups in the area could make it easier for you to find IT internships in London. Furthermore, interning in a smaller company will give you a better insight into the industry as you will have greater responsibilities and will therefore gain a greater of understanding of how the company functions.
This is very much an exciting time for the UK tech industry. As it benefits from more investment and more start ups flock to the area, ‘Tech City’ is fast becoming a powerhouse in the industry.
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