In yet another welcome move, London’s Mayor Sadiq Khan announced two major new tech initiatives to make life better for Londoners.
According to an announcement from the Mayor’s office, City Hall will fund 20 investment days over the next four years, to give innovative tech firms the opportunity to attract crucial funding to enable them to grow.
Each event – run by the UK Business Angels Association (UKBAA) – will focus on a specific area of tech and will offer coaching to the leaders of these burgeoning companies, as well as directly linking them with experienced investors. The GLA will provide £280,000 in funding, which will be matched in kind by the UKBAA. The programme will be structured so it will be entirely self-funding by the end of the four years.
Sadiq also announced that Bloomberg Associates – Michael Bloomberg's philanthropic municipal consultancy – will help shape the new Smart London Plan, in partnership with the Smart London Board. The document will lay out in detail how the Mayor plans to achieve his ambition of harnessing the modern technologies being pioneered in the capital to transform London into one of the world’s leading smart cities.
London’s tech sector is already the envy of cities the across the globe and the mayor is determined to ensure that the City becomes 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 - London Mayor