Lack of software engineering talent 'could derail London’s Tech City'

[AtW]

just over half what they could probably get in the financial institutions here.

If you factor in higher rate tax the gap won't be as huge, they probably won't get jobs in financial institution anyway without experience there, something they are getting in that startup.

[lilelvis2000]

Sorry, but its the wrong place for a tech hub. Given the rental rates, and what companies would have to pay people its on a loser.

I can't see that there's a lack of talent...I'm sure there are a lot of older programmers walking the streets looking for work. It's more likely a complete reluctance to work in a London full stop.

This could mean that London's tech hub will be staffed with bobs. Which, given the back-door deal that Indian has made with the EU, make a lot of sense now.

[AtW]

Given the rental rates, and what companies would have to pay people its on a loser.

Do you think rents are cheap in Silicon Valley? They ain't, just like in London, but the real difference is that apart from fairly inexpensive real talent they've got VCs who can put enough money to afford rates and other stuff.

[minestrone]

It might be your going rate but if business can't earn enough to afford such developer then it won't hire such developers and they'll either have to get job in place that pays is or adjust their market expectations.

260 (working days a year) x £500 = £130k cost to business, that's very high and very few businesses can afford such expense even if the person in question is Einstein. I'd rather hire 3x £40k good developers working in a permanent basis in a team.

If you could just get one decent developer on board it might be a start.

[AtW]

If you could just get one decent developer on board it might be a start.

Have you done your SKA clone yet? Hurry up because people you probably wanted to scrape data from will be closing down later this year.

[lilelvis2000]

Do you think rents are cheap in Silicon Valley? They ain't, just like in London, but the real difference is that apart from fairly inexpensive real talent they've got VCs who can put enough money to afford rates and other stuff.

I've been to Silicon Valley, I was offered a job there. I know what rental prices are like and what the home prices are. Salaries are pretty damn good there too. They are still, however, probably cheaper than NY prices. Silicon Valley works because there are two fantastic universities there pumping out talent, the US has fantastic investment rules and tax laws...and the weather ain't half bad either.

Putting a techhub in one of the world's most expensive cities with a relatively low quality of living is a white elephant about to be born. Its just more of this "build it and they will come" mentality. The more I hear about this, the more I wonder what back handers Cameron gets from it.

If the govt. created better investment rules a UK Silicon Valley would just happen on its own I bet.

[AtW]

Putting a techhub in one of the world's most expensive cities

They had some pretty high profile successes recently such as TweetDeck.

Proper tech VCs are pretty much non-existant in this country and those who exist focus on London and Cambridge/Oxford.

[eek]

What is stupid about Tech City is that it already exists apart from the fact the Government is involved. Silicon Roundabout has been hosting start-ups for years some of which (Spotify) have been slightly more success than SKA?

Mind you SKA would have been successful in you'd set up in the valley just look at SEOmoz.

[AtW]

Spotify is very successful for sure, but they had plenty of funding, deals with big content providers and their stuff appeals to very wide audience.

SEOmoz is based in Seattle. If my parents moved to LA at the end of 80s like part of our family I'd certainly be in Silicon Valley by now...


IMHO the Govt should do what it is meant to do - cut taxes to encourage innovation, especially anything that brings direct investment: low CGT on shares held over X years, cut down or remove business rates and reduce Corp Tax for any company that makes serious amount.

[minestrone]

Mind you SKA would have been successful in you'd set up in the valley just look at SEOmoz.

SKA might have been successful if it worked.