By Marcus Leach
Tech City Map Founder Charles Armstrong and private equity boss James Caan are joining forces to promote jobs growth in the Tech City footprint of East London.
“Technology is where Britain can redefine itself — and the East End of London is where it’s all happening,” says Mr Caan.
“We’re interested in fast fast growth tech companies to champion and mentor. But only the tech British start ups that have real growth and jobs potential.
“Britain is not going to compete on price with low cost manufacturers in Asia, but we can build tech businesses that dominate the world."
Mr Caan has not ruled out investing his own money in the tech businesses that emerge in Tech City.
“We’re promoting anything tech related, so anything can happen. And yes. If the idea is right, I will invest," he said.
Armstrong agrees with James Caan's verdict on Tech City.
"The past year has seen a surge of new companies being set up in East London," he said.
"The area has become a magnet for technology businesses because of its vibrant creative ecosystem. More and more companies are opting to locate in shared workspaces as a way to build networks with other businesses more rapidly and benefit from the outstanding range of expertise and talent available in the community.
"These are exactly the kinds of business that have the potential to become the mainstay of the UK economy over the next decade."
Mr Caan spoke with the Tech City Investment Organisation CEO Eric Van Der Kleij at a Cloud Start Up conference hosted by Sunday Times Tech Track league table leader Telemetry, during Global Entrepreneurship Week in November last year.
Enterprise Tsar Lord Young of Graffham joined Mr Caan in calling for jobs growth, utilising new technologies, particularly the cloud.
“Tech businesses are the businesses of the future," said Mr Caan.
Prime Minister David Cameron launched Charles Armstrong’s Tech City Map in November last year, saying that “the Tech City Map underlines the fantastic level of creativity and innovation taking place in the area."
Armstrong is backed by Thomson Reuters, LinkedIn, Mother, Cisco and Atos. Mr Armstrong’s shared workspace The Trampery in Bevenden Street was launched in October last year by Prince Andrew, the Duke of York, and is now home to 16 of London's hottest technology startups.
Mr Armstrong has plans to expand in the Silicon Roundabout neighbourhood alongside Google. He was the first person in the UK to raise money through 'equity crowd funding', raising £500,000 for his software company Trampoline Systems.
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