The rapid rise of London’s answer to Silicon Valley is to get a further boost through a new scheme that will forge new investment links with the city.
The Angels in the City scheme will generate funds of £10 million ($16 million) every year to fund start-up high-tech businesses and other entrepreneurs in the area known as Tech City, or Silicon Roundabout, in Shoreditch.
It is hoped that the scheme will attract a pool of 125 investors to become the new City Angels, drawn from the Square Mile, the UK’s financial and business epicenter.
Laurence Kemball-Cook is one of those who has benefited from Angel investment to support the growth of his business Pavegen Systems, which developed an innovative floor tile technology that converts the kinetic energy from human footfall to renewable electricity.
“London is a mecca for innovation, there are so many start-ups in and around Tech City who represent a huge opportunity for investors. We only recently secured Angel investment; the process was tough but the injection of funds was vital in order for us to move the business into the next stage, enabling us, for example, to up-scale our technology to fulfil existing client orders for our kinetic footfall technology,” Laurence said in the Tech City press release.
“The launch of the Angels in the City scheme is helping to open up the niche Angel community, and the investment opportunity it offers, to those who may not even be aware that is exists. In turn, an array of other high-growth potential start-ups may be able to benefit from Angel investment, like Pavegen Systems has, and actively grow their businesses,” he added.
Tech City has grown dramatically from a small number of high-tech firms to become the U.K. center for digital, creative, and high-technology companies. In just three years, it has expanded naturally from around 15 companies to over 300, growth that is set to continue, with the government actively supporting the area’s development.
Alongside the numerous start-ups and small to medium-sized businesses who have built their success within Tech City’s unique environment, the area is host to many of the world’s leading technology companies.
Household names such as Cisco Systems, Vodafone Plc, Google Inc., Facebook Inc., and Intel Corp. are increasingly recognising the advantages offered by Tech City and the significant potential benefits of being part of this thriving centre of technological excellence.
The Angels in the City scheme will generate funds of £10 million ($16 million) every year to fund start-up high-tech businesses and other entrepreneurs in the area known as Tech City, or Silicon Roundabout, in Shoreditch.
It is hoped that the scheme will attract a pool of 125 investors to become the new City Angels, drawn from the Square Mile, the UK’s financial and business epicenter.
Laurence Kemball-Cook is one of those who has benefited from Angel investment to support the growth of his business Pavegen Systems, which developed an innovative floor tile technology that converts the kinetic energy from human footfall to renewable electricity.
“London is a mecca for innovation, there are so many start-ups in and around Tech City who represent a huge opportunity for investors. We only recently secured Angel investment; the process was tough but the injection of funds was vital in order for us to move the business into the next stage, enabling us, for example, to up-scale our technology to fulfil existing client orders for our kinetic footfall technology,” Laurence said in the Tech City press release.
“The launch of the Angels in the City scheme is helping to open up the niche Angel community, and the investment opportunity it offers, to those who may not even be aware that is exists. In turn, an array of other high-growth potential start-ups may be able to benefit from Angel investment, like Pavegen Systems has, and actively grow their businesses,” he added.
Tech City has grown dramatically from a small number of high-tech firms to become the U.K. center for digital, creative, and high-technology companies. In just three years, it has expanded naturally from around 15 companies to over 300, growth that is set to continue, with the government actively supporting the area’s development.
Alongside the numerous start-ups and small to medium-sized businesses who have built their success within Tech City’s unique environment, the area is host to many of the world’s leading technology companies.
Household names such as Cisco Systems, Vodafone Plc, Google Inc., Facebook Inc., and Intel Corp. are increasingly recognising the advantages offered by Tech City and the significant potential benefits of being part of this thriving centre of technological excellence.
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