As with all other fields this idea was conceived stemming from its requirement. The requirement of Tech
from the fact that a person needed a place to handle the tech need and this will need to be different from the normal congregation of tech guys in a restaurant or some other place. The atmosphere
needed to be favorable to this technology. This saw the grand entry of Google in the year 2012. Propr to this the government was kind enough to allocate 50 million pounds or $ 70 million for the
Tech City mission. Google opened workplace at Bonhill street, close to roundabout of Old street. This office was open sevend ays of the week and sprawled across seven storey. This project
received a lot of hype and subsequently witnessed the entry of Amazon, Microsoft and even other top IT leaders of the world. The existence of a few of the most crucial advertising corporations
and enormous financial market in London undeniably helped to boost the business apart from making this place a very sensible selection for the new idea conceived. This has helped to showcase the
positive aspects and draw funding which was extremely vital as in this case. One avidity enhancing aspect is the pronouncement of 1 million pounds prize money for the most appropriate firm
amongst the newbie’s. This has been contributory in seeing the rise in energy level and more new companies giving a lot more than their best while vying for this award. Click here to discover more.
The tech city of London was born out of the need of fast startups. This is a progressively growing idea, yet to attain the heights of Silicon Valley. The hard work of the government to deal with the slowing economy are observed in the various developments in tech city, ever since 2011. The Tech Hubs in this Tech City will draw established companies, entrepreneurs and businesses, and their presence in one environment will make more opportunities. In consequence, the inflow of foreign exchange will swell. The basic thought of all these Tech Hubs is to have a useful environment where individuals with common interests and like thinking make and initiate plans for maximum output. Thanks to the tech commentator Mike Butcher and entrepreneur Elizabeth Valery, this dream has started to become a reality.
London city is geographically located such that it made it a very optimal choice and the requirement of Tech Hubs saw the concept coming into realism. Considering all these aspects one needs to keep in mind that the fear of failure loomed over initially as with all other projects and the requirement of funds was apparent. This is where Songkick, an organization providing news about live musical events came to help out the project and was successful to a large extent. This company helped in raising around $18 million. This funds was raised from an US company, Seqoia Capital, who had been investing in Tech Hubs in London for the first time. These funds aided in more ways than one. The money offered the required strength and also paved path for theencouraged further flow of funds from investors who were not quite certain of the future of this project. One facet worth mentioning is the normal belief of the less aggressive nature of people related to this industry. This is a common thought which has to be dealt with to add some weightage to the notion and get more investors to come in.