London named Europe's tech capital

London has been identified as the ‘silicon capital’ of Europe after attracting unprecedented levels of investment from overseas tech firms in recent years, ibtimes.co.uk reports.

Throughout 2012, some 88 overseas tech firms set up a base in London – which was a record figure at the time. Newly released figures have now shown that 2013 went one better and saw 90 firms move to the capital. Of these, around half were from the USA, whilst much of the remainder was made up of EU firms, along with a scattering from China.

Among the more high profile of these were French digital marketers Solocal and business network LinkedIn.

The figures come from London mayor Boris Johnson’s inward investment agency. In response to the results, a number of analysts have said this solidifies London as Europe’s tech capital, as figures continue to rise along with both business optimism and the economy as a whole.

The potential benefits of this new status could be huge and wide-reaching for the capital, as it entices yet more businesses and decision-makers to London – first for meetings or events and then again with much of their business in tow.

Commenting on the results, chief executive of London & Partners, Gordon Innes, told standard.co.uk: “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.”