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Mayor launches two initiatives to boost London's tech sector
Mayor launches two initiatives to boost London's tech sector

Mayor launches two initiatives to boost London’s tech sector

Two major initiatives have been launched by the Mayor of London to provide a boost to the tech sector in the capital.

Sadiq Khan announced the initiatives at WIRED Live yesterday, confirming that City Hall intends to fund 20 investment days in the next four years.

These investment days are intended to give firms the chance to attract funding to enable them to grow and therefore increase the number of organisations in the tech sector.

Funding to the tune of £280,000 will be provided by the Greater London Authority. This will be matched by the UK Business Angels Association (UKBAA) for the various events over the next few years, each of which will focus on different aspects of the tech sector.

Coaching will be available for business leaders, who will also be connected to experienced investors in the industry.

The second initiative announced for the tech sector by the Mayor is that Bloomberg Associates is working to develop the Smart London Plan, in conjunction with the Smart London Board.

Michael Bloomberg’s municipal consultancy will work on a document that outlines Mr Khan’s plans to harness new technologies in order to transform London into one of the leading smart cities across the globe.

In announcing these two initiatives, the Mayor said it shows London is “open for business.”

He said: “London’s tech sector is already the envy of cities across the globe and I’m determined to ensure we become the world’s leading tech hub.

“Since I became Mayor, the capital has attracted significant investment from the biggest players in this sector – Google, Facebook and Apple – to name just three.

“This is a clear sign London is open for business, but beyond these huge names, London remains a fantastic breeding ground for innovative young tech firms looking to break new ground across a range of industries.

“With the two initiatives I’m announcing, we will enable these start-ups to grow and develop as well as harness the expertise and innovative across our tech sector to help make life better for all Londoners.”

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