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Tuesday 19 March 2013 – Media Release

Level39 Officially Opens at Canary Wharf

Boris Johnson, Mayor of London Initiates Europe’s Largest ‘FinTech’ Accelerator Space

Level39, Europe’s largest accelerator space for financial, retail and future city technologies, has officially opened at One Canada Square, Canary Wharf in central London.

Boris Johnson, Mayor of London last night marked the opening by unveiling a ‘Digital Plaque’ using wireless technology in the presence of Sir George Iacobescu, Chairman and Chief Executive Officer and Eric Van Der Kleij, Head of Level39, both of Canary Wharf Group, along with a number of London’s leading business personalities and high potential start-ups.

Established by Canary Wharf Group and taking up the entire 39th floor of Canary Wharf’s iconic One Canada Square, Level39 is a sophisticated office, events and social space designed for growing businesses to create, test, market and deliver world-class financial, retail and future city technology products and services.

Level39 aims to enhance London’s position as the digital capital of Europe, and assist the transformation of the financial sector in areas such as transparency, compliance, risk management, security and customer service. It is an important addition to London’s Tech City, and by becoming London’s first physical centrepiece for financial technologies (FinTech), will complement the Capital’s existing technology clusters in the City Fringe, West End and South Bank.

Over the past 12 weeks, part of the Level39 space has been tested by seven growing businesses taking part in the Accenture-led Fintech Innovation Lab London. Other upcoming events and programmes confirmed for Level39 include the London Innotech Conference, the SWIFT Innotribe competition, WIRED’s Money Conference, New London Finance and a ‘Digital Sizzle’ organised by 3 Beards, a social organisation for London’s technology community. Canary Wharf Group has issued a call for companies and entrepreneurs to apply to be based at Level39, via www.level39.co.

The Mayor of London Boris Johnson said: “Attracting the brightest entrepreneurial minds is crucial if London is to maintain its position as the world’s foremost financial centre and Level39 will foster just the talent we need to future-proof the capital’s technology and financial sectors”.

Sir George Iacobescu CBE, Chairman and Chief Executive of Canary Wharf Group, said: “It is crucial for London’s business districts to keep pace with the needs of growing business sectors, and Level39 is our flagship for achieving this. We want Level39 to build on London’s existing strengths in financial services and technology; Canary Wharf is a natural point for these worlds to come together. Some of the rapidly growing companies we support at Level39 will view Canary Wharf or Wood Wharf as their natural long-term home, amongst the world-class customers, investors, mentors, infrastructure, and cultural and social activity that can all be found on their doorstep.”

Eric van der Kleij, Head of Level39 at Canary Wharf Group and ‘FinTech’ entrepreneur added: “The timing could not be better to open Level39. London’s financial services sector is searching for new technologies to transform itself at the very moment that the tech sector is displaying the sort of growth required to move the UK economy forward. Level39 is London’s point of convergence for FinTech, situated in the East End, which is the most dynamic area of Europe right now. Level39 and Canary Wharf complement London’s existing tech clusters and provide the capital’s first physical centrepiece for FinTech and retail tech. We aim to play a complementary role in the Tech City eco-system.”

Canary Wharf Group has already established one of London’s leading technology, media and telecommunications clusters, with over 1 million square feet occupied by companies at Canary Wharf including Thomson Reuters, Infosys, The Economist Group and Ogilvy & Mather. These companies directly employ over 7,000 people at Canary Wharf, with many thousands of additional technology professionals working at adjacent financial services companies, making it one of Europe’s most technology intensive districts.

ENDS

For further information, please contact:
Hamish McDougall
Canary Wharf Group plc
T: +44 (0)20 7418 2326
M: +44 (0)7779 888 075
E: Hamish.mcdougall@canarywharf.com

Lisa Donohue/ Brian Wendel
FTI Consulting
T: 020 7269 7219 / 7151
E: lisa.donohue@fticonsulting.com/ brian.wendel@fticonsulting.com

NOTES TO EDITORS:

1. About Level39

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/ Twitter: @Level39CW

2. The Canary Wharf technology, media and telecommunications (TMT) community

Canary Wharf’s TMT sector occupiers 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:
Citihub
Infosys
Trinity Mirror
3i Infotech
Interquest
Ricoh UK
Sungard
Thomson Reuters
Oracle Financial Services Instinet
McGraw-Hill
Ogilvy & Mather
The Economist Group

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.

Canary Wharf Group recently launched Wired Wharf, a social network for the technology, media and telecomms community in Canary Wharf and beyond

Twitter: @WiredWharf
LinkedIn: Wired Wharf
LinkedIn: Wired Wharf Community

1. 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 nearly 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 is ready to receive the Crossrail tunnel boring machines in 2013. It is also building a new headquarters for the European Medicines Agency at 25/30 Churchill Place.

www.canarywharf.com Twitter: @yourcanarywharf