Tuesday 10 September 2013 – Media Release
Level39 to Open New ‘High Growth’ Expansion Space in One Canada Square
Canary Wharf Group today announced it will dedicate a further 15,000 square feet of office space at One Canada Square, Canary Wharf to accommodate growing demand from high growth technology companies.
The launch in March of Level39 at Canary Wharf, Europe’s largest accelerator space for financial, retail and future cities technologies has proved successful, with over 310 applications received and all of the fixed and hot desk space in occupation. To respond to this greater than expected demand, the Group has created an additional ‘high growth’ expansion space on the forty-second floor.
The new facility, ready for occupation this week, will meet the demand for office space in Canary Wharf from technology companies expanding out of Level39 and its accelerator programmes. The Group has already exchanged contracts for immediate occupation with three high growth potential companies; Digital Shadows, Crowdrooster and Growth Intelligence, all graduates of Level39.
The Group is speaking to a further 11 technology companies about occupying the new space, and is pioneering flexible terms that support the high growth rates of technology companies. The high growth space can accommodate businesses of 8 to 60 people, and will provide a dedicated reception and pantry area, along with a connecting lift to the burgeoning Level39 community, set in the middle of one of the world’s premier business and shopping districts, with a working population of 100,000 and over 240 cafes, bars, restaurants and shops.
Eric Van Der Kleij, Head of the Level39 Technology Accelerator at Canary Wharf Group plc said: “This is part of our strategy to be more flexible to accommodate high-potential technology firms. Level39 is a soft landing for technology companies at Canary Wharf. Beyond that, we can help firms scale up in a very short space of time, moving from say a dozen employees to a hundred, then to a thousand, without having to be displaced from the local area. We can also help these companies access new clients, investment, mentoring and talent from the world leading firms already based at Canary Wharf. This kind of flexibility and assistance can be a crucial success factor for a growing business.”
“Ideally we are seeking companies that match Level39’s three areas of focus; FinTech, Retail Tech and Future Cities technologies. The aim is for us to offer something completely new for London, a physical centerpiece for Fintech which complements the other tech clusters across the UK and helps cement London’s position as the tech capital of Europe, while helping to return the financial services sector to growth,” he said.
Alastair Paterson, Founder and CEO of Digital Shadows said: “We’re delighted to announce that Digital Shadows will be the first business to occupy the high growth space. Level39 and its community has been a great launch pad, and we’re excited to be moving into this new, world-class facility. Canary Wharf Group have been very flexible in meeting our needs and the high growth space will be the perfect place to accommodate our rapid growth as we continue to secure the world’s leading financial institutions.”
Thomas Gatten, CEO of Growth Intelligence said: “Growth Intelligence has doubled in size since moving into Level39 in earlier this year. We’re looking forward to settling into our much larger new space and continuing to work with Digital Shadows and others in the Canary Wharf community.”
Francesco Fumagalli, CEO Crowdrooster said: “Crowdrooster’s workforce has doubled in the three months since moving into Level39, and we forecast that it will triple in the next three. As we move into the high growth space, we can focus on our core business without incurring in any logistic scalability issues, thanks to the smart flexibility that Canary Wharf Group is providing us with. Level39 has been a key factor for achieving our goals, thanks to their care and understanding of start-ups and moving into the high growth space is a great opportunity.”
Canary Wharf is an increasingly popular location for technology companies. Level39 at Canary Wharf has already secured more than 40 industry leading technology events such as Wired Money, London Innotech Summit, SWIFT Innotribe Start Up Challenge and a FinTech ‘Digital Sizzle’ organised by the Three Beards, a social organisation for technology professionals in the Tech City area. It recently announced a strategic partnership with Dassault Systèmes which, among other initiatives, will see it deliver the 3D FinTech Challenge accelerator programme in the second half of 2013.
For further information, please contact:
Canary Wharf Group plc
T: +44 (0)20 7418 2326
M: +44 (0)7779 888 075
NOTES TO EDITORS:
1. 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 the high growth companies
Digital Shadows was co-founded by Alastair Patterson and James Chappell with the purpose of protecting banks from cyber-attack. The UK-based company offers a cyber-monitoring service to help identify and monitor companies’ so-called “digital footprints” – information posted online by organisations and employees that amasses over time via social media, cloud services and mobile devices. The platform can give companies an outside-in view of their digital presence and help address potential security vulnerabilities.
Crowdrooster is an innovative crowdfunding platform that gives its users the potential not only to gain the funds needed to enter production, but the ability to enhance product and customer. The true benefit of this is that at the same time they are testing said innovation in a zero-risk environment.
Growth Intelligence® was set up by Tom Gatten and is a market-leader in real-time-information. It allows salespeople to track activity and performance for all businesses in real-time using their digital fingerprint and the science of ‘Nowcasting’. Before Growth Intelligence® there was no real-time source of information on the activity or performance of private companies. This means that B2B businesses are optimising sales and marketing approaches using old data. Recent clients include Google, BIS and BP.
3. The Canary Wharf technology, media and telecommunications community
Canary Wharf’s technology sector occupiers range from innovative financial technology companies and IT consultancy businesses, to advertising and media groups and business information providers.
Technology, media and telecommunications companies at Canary Wharf include:
Infosys Trinity Mirror
3i Infotech Interquest
Ricoh UK The Economist Group
Thomson Reuters McGraw-Hill
Ogilvy & Mather Oracle Financial Services Instinet
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 telecoms community in Canary Wharf and beyond.
LinkedIn: Wired Wharf
LinkedIn: Wired Wharf Community
4. 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 received the Crossrail tunnel boring machines in 2013. It is also building a new headquarters for the European Medicines Agency at 25/30 Churchill Place.