Pivotal commits £100m to Tech City over the next ten years
Pivotal has today announced it will invest in Tech City to the tune of £100 million over the next decade. Tech City in east London has for many years been the heart of a growing startup and technology business community. Since 2009 the number of digital companies has almost doubled and it is now home to well-known names as well as those just starting on the path to success. Pivotal see Tech City as one of the most exciting tech hubs in the world right now and while still in its infancy when compared to its Silicon Valley counterpart, it is already responsible for numerous emerging companies, creating jobs and generating a significant economic boost to the UK.
Those in the business of building enterprise software and looking for ways to understand big data analytics, mobile and the cloud may already be well aware of Pivotal. It is a company created by EMC and VMware, with additional investment from General Electric, in April 2013. While the headquarters are in the US, its EMEA headquarters will be in Old Street with 75 staff from January 2014.
The CEO of Pivotal, Paul Maritz, commented: “Tech City is one of the most exciting technology eco-systems in the world right now, thanks to its fantastic and dynamic mix of talent, infrastructure and the active support of the UK government. Pivotal is a company that helps other companies rapidly accelerate their growth, and we want to play a key role in helping organisations of all sizes, from dynamic start-ups through to global enterprises, to attract talent, grow and innovate in their marketplaces. Becoming part of the Tech City community is exactly what Pivotal wanted in order to foster high growth opportunities across multiple sectors.”
Prime Minister, David Cameron, MP said: “We’ve had real success. Today Tech City serves not only as an example of how a city can be transformed into an engine for growth and innovation, but it is also a blueprint for fostering growth that has been recognised globally. The combination of the right policies, the right people and the right programmes, backed by a Government that listens and takes action, has led to some of the world’s best entrepreneurs and their companies choosing the UK as their home.”
In addition to the Old Street HQ, the £100 million funding will support the recruitment and development of top talent and the expansion of Pivotal’s customer base across EMEA. Additionally a key element in its plans is to work with the local community and industry groups, to open an office space for use by any interested parties.