Goodbye Old Street, hello Hackerston
Tech start-ups are swerving Silicon Roundabout for canal-side cool, says Miranda Bryant
‘It’s close to the centre, it’s close to nature. I think it’s important to work in an environment you like’
FROM the peaceful barge-lined Haggerston stretch of Regent’s Canal, dotted with swans and the odd cyclist, the smoggy hectic rush of Old Street feels like a world away.
But as attention turns to tech for the start of London Technology Week on Monday, experts say that as well as Shoreditch it is places such as this that we should be looking to for inspiration.
Haggerston — or Hackerston, as it is known in some circles — is emerging as one of a number of clusters around the capital giving Silicon Roundabout a run for its money.
Haggerston’s growing tech hub is plain to see at co-working space Maker Wharf, home to SAM Labs and Primo, which both make educational tech products. Down the canal is DIY gadget company Technology Will Save Us and a short walk up the road, nestled by the Overground line, is musical keyboard company ROLI.
The dominance of these companies has led to the formation of some renowned meet-ups and collectives specialising in hardware and digital products. Even the local church, St Peter’s, has been known to get involved by hosting a digital installation.
Roland Lamb, CEO of ROLI, says the need for space brought them to the area more than two years ago and that he’s noticed “more and more” start-ups moving in since. Filippo Yacob, CEO of Primo and boss of a number of co-working spaces around London, says the appeal lies in convenience and cost. “The rents have gone up around Old Street. Certain companies started moving out and others followed,” he says. “More people already live here... it’s very convenient. There’s Haggerston Overground station and Old Street is only down the road.”
Joachim Horn, CEO of SAM Labs, says his company was attracted by the quality of life the area offers: “It’s close to the centre, it’s close to nature. I think it’s important to work in an environment you like.”
Clustering is changing London’s tech landscape. Rather than heading straight for Silicon Roundabout, start-ups are looking to alternative (and often cheaper) areas to set up shop, which has led to new hubs each with their own specialisms: Clerkenwell for advertising tech, Canary Wharf and the City for FinTech (financial technolgy), Notting Hill for fashion and e-commerce, Bermondsey for e-commerce and artificial intelligence and Kentish Town for ecommerce and digital marketing.
Tech City CEO Gerard Grech calls it the “ripple effect”. “Digital companies instinctively form networks because they know it’s important to their growth. There can be a range of motivations but just being able to tap into a talent pool or big companies that might want to buy in your services helps,” he says.
The growing diversity and geography of the capital’s tech scene is to be reflected in London Technology Week’s events across the capital. Highlights include Bloomberg’s Smarter Cities
conference, Interop London at ExCel, Coding and Caffeine at the Barbican Centre and a women in tech event hosted by Baroness Martha Lane Fox at the House of Lords.
Do these new clusters mean Silicon Roundabout should be watching its back? With around 2,500 companies in Shoreditch alone, probably not. But as space diminishes, rents rise and the sector grows, new clusters are almost inevitable. If it continues to travel east, perhaps London could end up with a Silicon (Lee) Valley of its very own.