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Diluting “Tech City’s” Innovation and Talent

How long will “Tech City” last as the business hub for tech start-ups with the ever increasing office rental prices forcing them to move beyond its pearly gates?

The Evening Standard broached the subject on rental prices driving start ups out of “Tech City” again last night (the Guardian bringing it to my attention a few weeks back) and therefore I thought this was something worth looking into and bringing it to your attention;

Evening Standard Tech City Rental Pricing

Matt Biddulph coined the term ‘Silicon Roundabout’ in 2008 in an ironic description of an area near Old Street which was inhabiting more and more tech start-ups. Irony soon being lost in translation and the term ‘Silicon Roundabout’ was soon adopted by all including Number 10 Downing Street. The government  spotted potential for the area to become the UK’s very own “Tech City”; investing large sums of money into nurturing and growing potential tech start-ups for the UK to boast  an outstanding portfolio of successful firms recognised on a national/global level.

Tech City Rental Cost Rise

The days of start-ups inhabiting cheap office spaces, dis-used pubs and shops etc. are now coming to an end as rental costs are increasingly rising, pricing young entrepreneurial companies out of the area.  Though how will this affect the UK’s Tech industry?

Networking Ideas

Start-ups are essentially a multitude of entrepreneurs going through a series of ‘trial and error’ adventures, networking and combining each other’s skills in order to reach the ultimate end; a winning combination of talent and innovation pulled together to make a successful tech company. Diluting their feeding ground by forcing them to scatter across the city will therefore be highly detrimental as it will affect the circulation of ideas; you can hardly network and discuss an idea with a like-minded stranger over a beer down the local pub or at a local food stall at lunch if you are living at other ends of the city.

What are your predictions on ‘Silicon Roundabouts’ future as UK’s Tech hub?

@uxpeople @zebrapeople @charliebails4

 

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