Go back to Shoreditch thirty years ago, and you’d hardly recognise it from the tech hub it is today. Sure, a lot of the buildings are the same, but Shoreditch has undergone a massive digital revolution since the late 90s.
Shoreditch used to be known more for its edgy character and vibrant nightlife than anything else. But now it’s one of the most desirable London areas for businesses of all sizes. From tech giants like Google, to small team startups just getting things going, the area is stacked with exciting businesses, especially Tech companies. So many, that the Old Street roundabout is known as “Silicon Roundabout”.
Startups have played a massive role in the evolution and expansion of the area, and private office spaces have been a crucial asset for businesses of all sizes. If you’re looking to learn more about Shoreditch’s startup scene and private office spaces in the area, then you’re in the right place.
In this guide, we’ll dig into the history of the area and look at the benefits of having your own office space in Shoreditch. Plus, we’ll give you some tips and tricks on finding the best office for your business.
A quick history of the Shoreditch startup scene
Did you know that Shoreditch was originally known as Soersditch or Sewer’s Ditch? Nowadays, the word Shoreditch is more synonymous with startups than sewers, thankfully. But that’s not always been the case.
Before the digital revolution kicked off, Shoreditch was a mostly working-class area of London. It was a popular entertainment area that put on Shakespeare plays (when he was alive) all the way to early Chaplin performances. It was also known for its manufacturing and craftsmanship.
In the 90s, the low rents in the area attracted artists and creatives, and this creativity sparked a massive transformation in the area. Shoreditch became an incredibly popular part of London by the early noughties, a bit like Camden had in the early 90s, and startups started calling the area home.
When you look at the area, it’s no surprise that it became a popular spot for startups, but here are a few reasons it became so popular:
- Geographical advantage – Shoreditch has a prime location. It’s right next to the City of London, the financial district, and is well-connected to other parts of the city.
- Tech City Initiative – In 2010, Prime Minister David Cameron announced the ‘East London Tech City’ initiative. The government wanted to nurture the Tech sector in East London. This initiative helped lure investment to the area.
- Cost- effective real estate – Old industrial buildings offered spacious, cost effective open-plan offices that Tech companies love. These converted warehouses became fashionable and desirable locations for startups.
So over the last three decades or so, the once working class, fairly industrial landscape evolved into an almost steampunk area of London. A mix of the old and new. Titans of industry, including the likes of Google, Amazon, and Facebook, have set up shop in the area alongside creative digital agencies and smaller startups making waves.
The area has plenty of home-grown success stories, including Monzo, the digital bank and TransferWise, the global money transfer service. Unlike other areas of London that have their day in the sun, Shoreditch doesn’t look like it will fall out of the favour any time soon. The Shoreditch startup scene is still going strong.
