Fin-tech, fash-tech, and food tech – London is the business at all 3. Just Eat, Transferwise, Grabble, Farfetch, Notonthehighstreet.com, Azimo, Deliveroo – these are companies we in the capital know and love.
And depend upon. No one is disputing 2016 was tough for start-ups, but in all 3 of the above categories, significant progress was made in the UK’s capital. There were casualties too – health food delivery start-up Pronto went under, POWA technologies, once a Unicorn, bought it and went bankrupt, and approximately 100 million fash-tech were started – with 99.9% of them dissolved, or consciously uncoupled, in under 45 minutes due to “creative differences”.
We jest, but hopefully you get the picture. If 2016 was the year of disastrously flirting with new ideas and testing the water only to discover it was full of sharks, not dolphins (who really, really didn’t seem to agree that we should stay in Europe), will 2017 be the year of carrying on doing what you’re good at?
So far, 2017, so good. Metro bank has declared it has £1billion to lend to small businesses and existing customers, Monese, the money transfer site, has raised £10 million to help migrants and newcomers send money home, and on Thursday, Jan 5th, you can enjoy a “Discover Blockchain Hyperledger Fabric Hands on Workshop” at WeWork, Moorgate.
Now if that doesn’t sound futuristic we don’t know what does!
A bit like early Guns n’ Roses, London has an appetite for disruption – welcome to the jungle!