Monday 19 January 2015 – Media Release
Canary Wharf Group plc opens third floor of dedicated tech start-up space in One Canada Square
In response to demand, Canary Wharf Group plc has today opened Level39’s second ‘High Growth Space’, and therefore increased the space dedicated to tech start-ups in One Canada Square to 80,000 sq ft. This is the third floor under Canary Wharf Group’s Level39 initiative.
The newly opened ‘High Growth Space: 24’ is a 25,000 sq ft space on the 24th floor. This follows the opening of Level39 in March 2013, and ‘High Growth Space: 42’ in September 2014, on the 39th and 42nd floors of One Canada Square respectively.
Both Level39 and High Growth Space: 42 are now more than 95% occupied, with Level39 hosting younger companies and the High Growth Spaces aimed at companies of eight or more employees. The space has attracted financial technology (fintech), retail technology and smart cities companies.
Eric Van der Kleij, Head of Level39 at Canary Wharf Group plc, said: “A collaborative working environment is a crucial factor in enabling high growth companies to achieve their potential. With over 160 tech companies now based at Level39 and our High Growth Space: 42, we remain committed to delivering the right type of spaces and support for technology companies to succeed.
“This second High Growth Space, which has opened within two years of Level39’s launch, is our third complete floor and underscores Canary Wharf’s leading position as part of London’s growing status as a global technology company hub.”
The space has signed its first occupants, Accenture’s 2015 Fintech Innovation Lab London who will be joined by the 36 tech companies participating in Canary Wharf Group’s smart cities initiative, the Cognicity Challenge. High Growth Space: 24 will also house start-ups and accelerator programmes in the fintech and smart cities sectors. Growing technology companies will be able to apply for space on the floor later in 2015. The space will be a natural transition space for maturing high-growth start-ups graduating from the Level39 accelerator.
“Accenture’s FinTech Innovation Lab London brings together the banking and financial services industry with the best technology start-ups from across Europe,” said Julian Skan, Accenture managing director overseeing the FinTech Innovation Lab London. “We’ve chosen Level39 as the workspace for our FinTech Innovation Lab London start-ups for the third year running because of its location in one of London’s financial hubs, as well as for its professional support team and range of complementary start-up activities.”
The majority of first occupants at High Growth Space: 42 were graduates of Level39, including AMP, Fingenius, Kusiri, Recipco, Digital Shadows, Growth Intelligence, TransferGo and Prophis. Recent key signings have also included IBM, Dassault Systemes, Tradeshift and Datawatch.
For further information, please contact:
Aleka Bhutiani, Director, FTI Consulting
T: 020 3727 1048
Elizabeth Adams, Canary Wharf Group plc
T: 020 7418 2000
NOTES TO EDITORS:
The Canary Wharf technology, media and telecommunications community
TMT sector occupiers already employ 7,000 at Canary Wharf and range from innovative financial technology companies and IT consultancy businesses, to advertising and media groups and business information providers. TMT companies at Canary Wharf include:
The Economist Group
Oracle Financial Services Instinet
In March 2013, Level39 was officially opened at One Canada Square, Canary Wharf. Level 39 is Europe’s largest accelerator space for financial, retail and future city technologies. Canary Wharf Group also recently launched Wired Wharf, a social network for the technology, media and telecomms community in Canary Wharf and beyond. Canary Wharf is an excellent place to base a technology, media and telecommunications business because of access to talent, investment, customers; the ability to build bespoke office space and the quality of infrastructure, environment and lifestyle. Following the high demand of applicants to Level39 and the success of the high growth companies, Canary Wharf Group opened a high growth space (15,000 sq ft) on the forty-second floor of One Canada Square in October.
Business IT company Infosys has recently opened its Experience Centre at its Canary Wharf offices at 10 Upper Bank Street. The Experience Centre is a showcase for new software for Infosys’ clients and prospective clients.
Canary Wharf tenants like Citihub, Instinet and Ricoh are providers of high-frequency and event-driven trading platforms which are driving innovation in the financial services sector.
Canary Wharf is home to various members of the WIRED 100 (Wired magazine’s list of digital power brokers) over the past few years. Jane Moran, Chief Information Officer of Canary Wharf-based Thomson Reuters, was recently named one of the 10 most powerful women in the tech sector.
About Canary Wharf Group plc
Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail, residential and leisure facilities in central London. Over the past 20 years Canary Wharf Group has regenerated derelict wharves into one of the world’s premier business and shopping districts, constructing over 16m sq. ft. of office space; more than any other company in London. These buildings are now occupied by over 100,000 people.
Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 300 shops, bars, cafes and restaurants including many of Britain’s leading brands.
The Group’s world-class, year-round arts and events programme offers over 100 diverse and culturally inspiring events performed throughout the Estate. Winner of the 2010 Christie’s Award for Best Corporate Art Collection and Programme at the International Art and Work Awards, Canary Wharf Group showcases over 65 pieces of permanent art throughout the Estate, designed and created by more than 50 artists and craftsmen. A regular exhibition programme in the Lobby of One Canada Square and Jubilee Park further adds to the Estate’s comprehensive cultural and creative offering.
In addition to development on the Canary Wharf Estate, the Group is also involved with projects across London. The Pan Peninsula and Drapers Gardens developments have been successfully completed and construction continues on 20 Fenchurch Street (Walkie Talkie) in the City of London which is nearly fully let. The Group is also in a joint venture with Qatari Diar for the redevelopment of the Shell Centre on London’s South Bank.
About Canary Wharf’s new phase
Canary Wharf’s new phase is an exciting new project for Canary Wharf Group plc which represents the continued redevelopment of East London almost 30 years after the original transformation of Canary Wharf began.
Canary Wharf Group plc submitted a new Planning Application for a Mixed Use Urban Neighbourhood on Canary Wharf’s Eastern Edge in December 2013 to the London Borough of Tower Hamlets.
The revised masterplan will create a strong and complementary mix of uses, and provide new homes, offices and retail spaces set within a network of streets and public spaces, designed to support the social life of new residents, employees and the surrounding community.
The Masterplan provides for 4.6 million sq ft of mixed use development comprising:
- 3,100 residential units
- 240,000 sqm (2.57 million sq ft) (GIA) of commercial offices
- 31,000 sqm (340,000 sqft) (GIA) of shops, cafes and restaurants
- 6 hectares (8.9 acres) of interconnected public spaces
The new neighbourhood will offer a range of homes from park-side townhouses and affordable housing to luxury penthouses in some of London’s tallest residential buildings designed by world-class architects.
The new offices will appeal to a range of tenants but with a focus on creative media, technology and telecommunications.