London Mayor Sadiq Khan unveils fresh support package for start-up sector

·2-min read

The capital’s tech start-ups were given a boost today after the Mayor of London unveiled a fresh package of measures to support the development of high-growth businesses.

The plans, which include an export programme for scale-ups looking to grow overseas and an ‘Innovation Fellowship’ programme for entrepreneurs, will be delivered by the mayor’s agency London & Partners in a bid to maintain the capital’s status as a hub for innovation and business on the global stage.

Support will also be targeted at helping international businesses expand into London by leveraging London & Partners overseas offices in the US, Europe, India and China.

London mayor Sadiq Khan said: “With a challenging global economic environment and the cost-of-living crisis, it’s important that we continue to support our city’s businesses to reach their full potential, create additional jobs and build a more prosperous city for all Londoners.

“Our city is home to some of the world’s most exciting companies and this new range of programmes…will help to ensure that our city continues to provide our innovators the support they need and to attract talent from around the world.”

It comes as research by GoDaddy shows London has further strengthened its position as the start-up capital of Britain with 18 of the top 20 constituencies for start-ups can be found in the UK capital.

The Cities of London and Westminster came top of the list, with 15.77 microbusinesses per 100 people, followed by Hackney South and Shoreditch (5.89) and Holborn and St Pancras (5.83), the second consecutive year that London occupies all top positions on the podium.

London’s SME community is also the most diverse of anywhere in Britain. Half (49%) of Britain’s black SME owners live in London, while it is home to 40% of Asian entrepreneurs, while the capital is also home to a quarter (24%) of Gen Z entrepreneurs, more than any other region the country.