TMT start-ups are set to benefit from a £440million investment in the Government agency for innovation and growth – the Technology Strategy Board.
Every pound invested by the board returns £7 to the economy by helping TMT start-ups to develop and bring ideas to market, according to research carried out for the agency.
Digital Shoreditch, which starts today in East London’s Tech City, was founded 3 years ago with the backing of the board. The annual technology festival, the brainchild of Kam Star who also founded games firm Playgen, has grown into an interactive event with 500 speakers.
Kam said: ‘We were sceptical about Government involvement in Tech City, but it has given us a flag and we are running to it.’
Other entrepreneurs attending the event have said that other funding, such as the Seed Enterprise Investment Scheme (SEIS), was helping tech start-ups too, and increasingly London was being favoured over Silicon Valley for both investors and entrepreneurs alike.
Leave a Reply