It's painful to do a tech startup anywhere! I don't think it'll come as a surprise to anyone that Silicon Valley is the best place in the world to do a tech startup. The eco-system there has had decades to develop and grow, while London's is still in its infancy. Silicon Valley's tradition of the benficiaries of IPOs re-investing their new-found wealth into tech startups stretches back to Mike Markkula's investment in Apple, while there are still relatively few British angels. And the "What's in it for me?" attitude prevalent in London stands in marked contrast to Silicon Valley's collaborative, "Pay-It-Forward" culture. London is also hampered by government attempts to "help" (i.e. take the credit for) the tech industry that is often inept and, at times, cronyistic.
But I wouldn't give up on London. It takes time for eco-systems to grow and mature. London's tech startup scene may well be amateurish but it's also incubating world-class companies like Mind Candy, Huddle, King.com and Spotify. Silicon Valley-based startups are coming to London to acqui-hire companies like CrashPadder and Lightbox.
London's already the best place in the world to start a company in certain segments (e.g. fin.tech) and it's often the first choice for companies looking to establish their first international office.
And it's going to keep getting better because there are people here who want to see it get better.
Thanks Michael, your feedback is appreciated. We wish you all the best in Silicon Valley.
But I wouldn't give up on London. It takes time for eco-systems to grow and mature. London's tech startup scene may well be amateurish but it's also incubating world-class companies like Mind Candy, Huddle, King.com and Spotify. Silicon Valley-based startups are coming to London to acqui-hire companies like CrashPadder and Lightbox.
London's already the best place in the world to start a company in certain segments (e.g. fin.tech) and it's often the first choice for companies looking to establish their first international office.
And it's going to keep getting better because there are people here who want to see it get better.
Thanks Michael, your feedback is appreciated. We wish you all the best in Silicon Valley.