Capital declared 'open to global tech' by Mayor of London

Mayor of London Sadiq Khan has said the Capital is now open to technology investment from around the globe ahead of the London Technology Week festival, which begins on 12 June.

According to Mr Khan, the festival will give the city to opportunity to showcase its ideas, and cement its position as Europe's leading technology hub.

"Our talent, diversity, entrepreneurial spirit and global connections put us at the heart of digital technology," he said. "London Tech Week 2017 will be a fantastic opportunity to show that London is open to collaboration, innovation and ideas that could change the way that all Londoners live and experience the city."

London is currently home to more than 46,000 technology firms, which contribute over 240,000 jobs to both the city's and country's economy. Since the referendum, these companies have received more than £1 billion in venture capital investment, according to data from company profile firm PitchBook.

A number of the world's largest global tech forms have also committed long term investment into London, with Apple announcing a new £9 billion project to open a London HQ in Battersea and Google announcing a £1 billion investment for a new London heaquarters.

According to Zoe Osmond, Festival Director for London Tech Week, London has always been a key investment location due to its reputation for housing some of the best tech entrepreneurs and innovators in the world.

"With other global cities increasingly looking to compete with London, it is important that we continue to shine a spotlight on London’s global tech offering," she added. "With a wide range of events to appeal to different audiences, London Tech Week will bring together investors, entrepreneurs, policy makers and business leaders to experience London’s strengths in innovation and creativity."

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