Shoreditched! Richmond’s the high-tech hotspot

FutureFest at Shoreditch Town Hall London October 2013 ©

THE GOVERNMENT’S Tech City strategy has come under question as research suggests that Shoreditch, let alone Stratford, is not the throbbing centre of online innovation in the UK.

It is, says consultant KMPG’s latest Tech Monitor Report, Richmond. Yes, that bourgeois heartland you fly over when you start a long-haul flight, figuratively as far from East London as JFK is from Heathrow.

But it has a geeky edge: for example, eBay is headquartered in the beautiful though plane-blighted suburb.

The report offers some explanations why the Old Street Roundabout hub did not top the London table of tech-sector job concentrations.

Going down: Shoreditch Town Hall
Going down: Shoreditch Town Hall

It says: “Firstly, it straddles the London boroughs of Hackney and Islington, which both have large, diverse local economies and are home to many multinational companies, especially in the financial services, advertising and market research industries.

“This means the tech sector can and does employ many thousands of people without having a particularly large overall footprint. [Relax: there isn’t much more jargon.  –  Ed.]

“Secondly, the Office for National Statistics location quotient data [Whoops, there was more. – Ed.] are based on employment at VAT-registered companies in 2011, so may not fully capture start-up companies and small businesses that have sprung up in Tech City more recently.

“Moreover, the location quotients capture the number of employees working in… ”[Zzzzzz… enough!  –  Ed.]

Hamish Scott 221013

* To read more, press this link. Later today KPMGs Tech City team will write on its website the implications for Tech City. 

* Emboldened underscored words in most cases indicate a hyperlink, a reader service rare among websites. If a link does not work, it is probably because the site to which the URL refers has not been maintained.

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