CAPITAL WATCH ISSUE 1 2018

offered larger corporates such as Amazon and Adobe the ability to access creative and technological talent and use the neighbourhood's cultural and social amenities to attract a young and highly skilled workforce. It was this confluence of talent and amenities that led to the infamous tweet in 2008 from Matt Biddulph of Dopplr: “’Silicon Roundabout’: the ever-growing community of fun startups in London’s Old Street area.” Although this was a very tongue-in-cheek comment at the time, the area surrounding the Old Street roundabout has evolved into an established hub of creativity and innovation. Interestingly, Biddulph mapped the startups in the area back in 2008, which showed a grand total of 16 tech companies. Reports estimate that there are now over 1,350 tech businesses in Shoreditch, demonstrating a huge explosion of growth in the area. These young companies swarmed towards Shoreditch, and could find relatively inexpensive office space in One of the most important factors in the success of Shoreditch as an emerged location is its human capital. From the 1990s onwards, the area played home to an increasing number of young graduates – a population which continued to grow as transport connections improved and network effects developed. For many individuals, the charm of Shoreditch was quite simply the opportunity to find relatively inexpensive office or studio space near affordable residential rents. The density of these locations – combined with “third spaces” including galleries, bars, andclubs – not only attracted young graduates, but also promoted the creation, distribution, and development of ideas, technologies and businesses. This concentration and collaboration of skilled individuals is critical not only to the area’s success as a cluster of tech and digital content start-ups, but its desirability as a location for major occupiers. Shoreditch Augustinian Priory founded - Shoreditch first comes to prominence Huguenots started to settle in the Shoreditch area 1158 1685 Construction starts on James Burbage’s ‘The Theatre’ 1576 For many individuals, the charm of Shoreditch was quite simply the opportunity to find relatively inexpensive office or studio space 36 PAST, PRESENT, FUTURE