Tech City in Shoreditch is known as the place to be for startups, but more and more companies are being attracted to London’s other tech city, Croydon Tech City (CTC), it has been claimed.
According to thenextweb.com, CTC has a lot to offer startup companies and Ash Rishi, CEO of startup Couch, has proven that this is the case. Mr Rishi’s startup was first launched in Shoreditch last year, but he found that there was a lack of talent in the area for the amount of money he was willing to spend.
“There seems to be a glamour to being in Tech City, so sometimes the talent is not up to scratch – on top of their exorbitant prices,” he explained.
Although rent was cheap in Tech City, he decided to relocate to CTC and eight months later he has employed four more full-time staff members. He believes that Croydon could play a big role in job creation, especially as rail prices to central London are more expensive and it is harder for jobseekers to make themselves stand out within the job market. However, he also noted that CTC has a way to go yet, but it does offer plenty of value for startups.
There is also some concern for the future of Tech City, as in the next financial year responsibility for the area will be handed over to London & Partners, reports techcitynews.com. It is not yet clear what this change will mean, but Croydon on the other hand is set for a £1 billion regeneration, showing life outside Tech City will continue to thrive.