Canary Wharf Group has expanded the Level39 tech accelerator so that it can accommodate a growing number of flourishing tech startups in London.
The accelerator currently occupies the 39th and 42nd floors of One Canada Square, the UK’s second tallest skyscraper, but the expansion will see the facility take over the building's 24th floor as well, providing an additional 24,000 square feet of startup space for high growth companies.
The 39th floor is for younger companies while the 42nd floor – opened in September 2013 just half a year after the accelerator opened – is for companies with more than eight employees.
Canary Wharf Group, the owner and developer of nearly 100 acres of property at Canary Wharf, is particularly interested in nurturing companies focusing on fintech, retail technology and smart cities.
Eric Van der Kleij, head of Level39 at Canary Wharf Group and former Tech City UK CEO, said: “A collaborative working environment is a crucial factor in enabling high growth companies to achieve their potential. With over 160 tech companies now based at Level39 and our High Growth Space: 42, we remain committed to delivering the right type of spaces and support for technology companies to succeed.
“This second High Growth Space, which has opened within two years of Level39's launch, is our third complete floor and underscores Canary Wharf's leading position as part of London's growing status as a global technology company hub.”
Accenture moves in
The 24th floor has already signed up technology services and outsourcing giant Accenture as a resident. Teh company will run its own fintech startup programme out of the facility.
“Accenture’s FinTech Innovation Lab London brings together the banking and financial services industry with the best technology startups from across Europe,” said Julian Skan, the Accenture managing director overseeing the FinTech Innovation Lab London. “We’ve chosen Level39 as the workspace for our FinTech Innovation Lab London start-ups for the third year running because of its location in one of London’s financial hubs, as well as for its professional support team and range of complementary start-up activities.”
The UK is home to more startup programmes than any other country in Europe, according to O2 owner Telefonica.
The accelerator is taking a number of steps to ensure startups in its space have the best possible chance of becoming successful technology companies.
ClubLounge39, a private members club for CIOs and investors was opened on the 39th floor last July, with the aim of putting them in touch with promising startups.