Mayor Johnson has recently been trumpeting about the success and growth of the technological achievements of the city of London’s technology sector. The Mayor of London recently spoke about the capital being a technological powerhouse, stating on television: “Without any interference from MP’s or grants etc, we are seeing, over the last four or five years, real growth in the tech sector of London.”
It does seem that the public in general are not fully aware of or focused on London’s growing dominance in technological advances. Mr Johnson went on to say:
“What we need is for the tech sector to be properly supported by investors and to list on the stock exchange where they will get the capital that they need to develop their concerns. One of the mysteries is why America built gigantic tech businesses has over the last 20 or 30 years whilst Europe has never really had anything of considerable size? I have just come back from Silicon Valley in the U.S and I think that London is a much more attractive place to work and live.”
London’s equivalent to Silicon Valley in the U.S. is Silicon Roundabout between the boroughs of Hackney and Islington. The Mayor rightly pointed out that the area has created 40.000 jobs and may well one day re-address the balance with the financial sector in the City, which has more than 360,000 workers.
London’s rise in the technology spectre is most welcome news for London and the country as a whole.
If the technology industry is supported by foreign investment it has to be a good thing and technology graduates from all over the world may well find themselves lured to the vibrant and historic city of London in order to work here.
Floating this British technology business’s on the London stock exchange has to be the way forward in difficult times. Of all the business’s that should grow and prosper in an economic downturn, technology has to be the number one choice.