Tuesday 18 March 2014 – Media Release
Level39 celebrates creating world class London tech cluster in just 12 months
Today Level39 celebrates its first anniversary. The technology accelerator has so far helped 86 financial, retail and future cities technology companies grow over 12 months, creating an internationally recognised technology cluster in Canary Wharf and an acknowledged home for FinTech in Europe.
Level39 (29,000 sq ft) was conceived and established by Canary Wharf Group plc to offer growing tech businesses unrivalled access to office, event and social facilities, plus introductions to over 340 leading industry figures comprising customers, partners, mentors, talent and investors. It has become London’s predominant community for financial technology innovation and is growing as a centre for retail and future cities technology.
Since its official opening by Mayor of London Boris Johnson a year ago, Level39 has received over 682 applications for membership from technology companies internationally. Following this high demand of applicants and the success of the high growth companies, Canary Wharf Group plc opened the High Growth Space (15,000 sq ft) on the forty-second floor of One Canada Square last year, just six months after launching Level39. The first members of the High Growth Space were all graduates of Level39 who have since been joined by a further five technology companies – London Brand Management, Kusiri, Pirean, Meniga and Recipco – with the Group in discussions with a further 10 technology businesses.
The success of the Group’s accelerator model, designed to nurture growing technology companies to become occupiers at Canary Wharf, yielded its first result with Pirean, a Level39 and now High Growth Space graduate that has transitioned into a fully-fledged tenant in under a year. The Identity and Access Management (IAM) Company signed a five-year lease for 2,259 sq ft on the 34th floor of One Canada Square last week.
Level39 has also played host to over 30,000 visitors, 200 events including the 3DFintech Challenge sponsored by Dassault Systemes, Wired’s Future Money Conference, PayPal’s Battlehack and international delegations including the Swedish royal couple, Hong Kong’s Financial Secretary John Tsang, and the US embassy.
To celebrate the one year anniversary, Head of Level39, Eric Van der Kleij, will be hosting a ‘fireside chat’ with Gerard Grech the new Tech City UK CEO at Level39 on his approach to the role and his plans for listening to and understanding the needs of the UK’s tech entrepreneurs and digital business builders.
Eric Van der Kleij, Head of Level39, said:
“The Group’s vision for Level39 was to help high-potential tech companies grow in an optimum environment, with the guidance of our industry mentors. The demand we have seen at Level39, the High Growth Space and at Canary Wharf has been overwhelming. It reinforces London’s strength as a network of specialist clusters. At Canary Wharf we are focused on maintaining our momentum into the next year and helping support the next leaders in financial, retail and future city technology.”
Gerard Grech, Tech City UK CEO adds:
“All over London and across the UK, traditional industries are being reinvigorated through the power of technology. Level39 is a fantastic example of what happens when an established sector like finance embraces digital technology. My priority is to garner the opinions of the digital entrepreneurs and business builders that are diversifying the UK economy, creating jobs and ultimately driving growth, and to understand how government and Tech City UK can best support them.”
Alastair Paterson, Co-Founder of Digital Shadows, Level39 and High Growth Space member comments:
“Digital Shadows were one of the first companies to become members of Level39, and six months later we became the first team to put down roots on the High Growth Space. We had a fantastic 2013, and Level39 provided the perfect launch pad for us to engage with the many tier-1 banks who we now count as clients. We made a lot of genuinely useful connections and friendships at Level39, our team enjoy the environment here, and hats off to the Canary Wharf Group for their flexibility in accommodating our rapid growth as it continues into 2014 and beyond.”
For further information, please contact:
Canary Wharf Group plc
T: +44 (0)20 7418 2326
T: +44 (0)203 727 1048
NOTES TO EDITORS:
1. 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:
Skrill The Economist Group
Sungard Ricoh UK
Thomson Reuters Trinity Mirror
Oracle Financial Services Instinet 3i Infotech
China Unicomm Interquest
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 Level39 at Canary Wharf
Established by Canary Wharf Group plc, at 29,000 square feet, Level39 is Europe’s largest accelerator space for businesses innovating in financial, retail and future city technologies. It helps growing businesses to deliver world-class financial technology products and services through unrivalled access to office, event and social facilities, new customers, partners, talent, investment, ideas and social and cultural amenities provided by Canary Wharf.
Level39’s layout has been designed in ‘tech industry’ style by architects Gensler, who have worked on some of the world’s most exciting workspaces including offices for Facebook and Google. Since beginning fit-out in October the space has been transformed to include:
• An exclusive set of ‘sandboxes’ – think spaces which will enable accelerator programmes, software engineers and builders of financial services platforms to refine, test and showcase transformative technologies in a safe, ring-fenced environment
• A growth-phase zone for businesses experiencing rapid expansion, making it easier to meet potential clients and partners, investors, mentors and other entrepreneurs. This includes an open plan kitchen with an iPad-powered coffee machine
• Drop in space, hot and fixed desks available for hire
• A new 200 seat event space to host regular industry events and demonstration days, with some of London’s best views
• A modern reception area visually reflecting the technological innovation taking place at Canary Wharf and further afield, leading to a future ‘Technology Tunnel’ designed to showcase new IT products and services in an interactive way
• An express elevator with Level39 as the first stop
• The Level39 Business Club Lounge, which will host a membership-style club attracting leading industry figures and investors
• Semi-open and open-plan office areas to service the needs of early-stage and growth phase businesses
Prices for use of Level39 are subsidised by Canary Wharf Group and set at achievable levels for small companies. For more information visit: www.level39.co/
2. About Canary Wharf Group plc
Canary Wharf Group plc is an integrated property development, investment and management group of companies. Canary Wharf has a working population of over 100,000 people in a diverse range of sectors for some of the world’s leading companies. It has paved the way for the regeneration of London’s Docklands and one in five Canary Wharf workers now lives in a local East London borough. It has helped London and the City consolidate its position at the centre of the business world.
The Group has plans in place to continue to develop Canary Wharf in the coming years. This will be in parallel with other central London developments such as the Shell Centre on the South Bank (in a joint venture with Qatari Diar) and 20 Fenchurch Street in the City of London (in a joint venture with Land Securities). The Group is currently constructing the Canary Wharf Crossrail Station ahead of schedule and on budget, which received the Crossrail tunnel boring machines in 2013.
Wood Wharf 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 4.9 million sq ft of mixed use development comprising:
• 3,100 residential units
• 1.9 million sq ft of commercial offices
• 270,000 sqm of retail space including shops, cafes and restaurants
• 87,000 sqm of hotel space
• 3.6 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.