90 foreign tech companies set up an HQ in London last year

London’s Tech City Initiative is not just some “Number Ten-sponsored PR,” Boris Johnson’s inward investment agency London & Partners has said.

The comments come as a total of 90 foreign tech companies set up an HQ in London last year, up from 88 in 2012.

Of the 90 companies that came to the capital last year, about half were American and the rest came from Europe and China. Most of them set up shop around Tech City is Shoreditch.

David Slater, director of international business development, London & Partners, said: “This shows that the whole Tech City initiative is gathering momentum. It is not just some Number Ten-sponsored PR — it is something you can touch.”

“Framestore, [the Soho firm behind the special effects for movie Gravity], is a good example of what makes London so great — creative ideas delivered through technology to the highest standards in the world. London is unique because in one city you have got this range of very strong world-class sectors, and technology that can enable them ever further.

“No other city in Europe can offer that, and that is why it is so exciting to the Americans and the Chinese.”

Gordon Innes, chief executive of London & Partners, said: “London has experienced a stellar year, in which the city has attracted excellent companies from around the world to invest, develop and grow here.

“London has many outstanding attributes that are recognised worldwide, including a deep pool of talent, superb access to markets and financial backing, and a well-earned reputation for innovation and creativity.”

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