London: the biggest monopolist of startups in the UK - and the second in the world! Indeed, the big city was ranked second in the world (after Silicon Valley) as the best city for startups to succeed! But why is London such a hotspot for up-and-coming businesses and emerging entrepreneurial talent? Well, apart from being the epicentre for many of the UK’s biggest investors and businesses and having easy-to-access resources, London is a diverse and multicultural city. People come from all over the world to be in London, so the talent pool is huge. London’s startup ecosystem is valued at over $142 billion!
How many startups are there in London?
In 2019, there were over 221,373 startups created, a number that has continued to grow in the last three years. Moreover, as of 2022, there are 75 unicorns in London. Believe it or not, that’s more than any other European capital! So, not only are there lots of startups in London, but these startups are becoming hugely successful as a result of London’s spaces, resources and expertise. London also has great connections to Europe, Asia and the United States, helping startups go from humble beginnings to global enterprises.
Fastest growing London startups
Despite the pandemic, London-based startups have gotten off to a brilliant start in 2022. Perhaps because isolation reinvigorated the UK's entrepreneurial spirit, or because many startups rely on a working internet rather than a physical space. Regardless, startups are thriving, and here are some of the best London has to offer this year:
These tech startups turn huge profits every year, proving that startups don’t always equate to low numbers and slow growth. It is also notable that tech startups are especially successful in London, possibly due to the capital’s great tech education and is the hub for many technology incubators! To see a comprehensive list of the top 100 London startups of 2022, click here.
Investors for startups in London
London is THE place for startups in the UK, and arguably the whole of Europe, and there is no shortage of investment options available in the capital. In 2021, tech startups raised over £19bn in funding. This is double the amount raised in 2020. Much of this funding goes to fintech startups - the most popular London. Investors are constantly looking for up-and-coming startups with high growth potential. Here are some of London’s best:
1. Angel Investment Network
2. 24 Haymarket
3. Angels in MedCity
4. Angels Den Angel Network
5. Cambridge Angels
6. Clearly Social Angels
All these investors are looking specifically for London startups and each offer something different to a startup. It’s essential when looking for an investment company that they share your values and contribute something significant to your company. Doing the research before you dive in will help your London startup take off!