RWW Never Mind the Valley: Here's London

We (Songkick, yc s2007) have a floor of a warehouse just up the road from Silicon Roundabout. There are about 8 startups based at our place (including Habit Industries, also yc s2007). This post gives a really measured, non-sensatinal view of what it's like to start up in London. We're really enjoying building Songkick here.. It's changed for the better even in the two years we've been starting up. Btw - we have deskspace going at our place - see here: http://www.gumtree.com/london/17/50884217.html

It's interesting to see how Cambridge is playing into this ecosystem. There quite a few very interesting startups here, but clearly we're still in London's growing shadow. For example, lots of Cambridge companies have London offices.

My start-up is here in London: http://causata.com/

Azeem is spot on about what UK startups face, but here's a couple more overriding themes that I've observed:

- There's a culture of "what's in it for me?", so it's hard to get advisors or put together an advisory board without getting out your cheque book. People in the valley (outwardly) seem to be more willing to take a chance, and trust that they'll get looked after in the event the business goes well. Not as much altruism in London.

- The UK is more risk-averse than the valley, you don't just need a vision, a prototype and a quality team, you need all that plus traction and profit before you fall inside investors appetite for risk.

Actually, is there a big list of London-based startups anywhere? There must be close to three figures, even if you only count the consumerish Web ones. There's umpty-billion hedge funds and financial technology houses.

Couple of good London startups I know from friends :

http://www.nestoria.com/ Property search engine, which is doing really well, profitable and spreading base across Europe. Started by ex-Yahoo people.

http://www.mendeley.com/ "Like iTunes™ for research papers. Mendeley is a free research management tool for desktop & web."

How valuable is location if you're not in SV? New York seems pretty great for media companies. But what about else where?

What is Londons calling (zing)? Is there notable value in groups of startups being together other than the PG "don't ever stop typing" social aspects? Whilst that is valueable, a lot of startups go to SV for the visibility and proximity to the exit acquirers.

Lots of startups around Silicon Roundabout.

http://siliconroundabout.ning.com/

Greetings from a fellow Londoner :)