KPMG has announced it will be setting up shop in London’s “Tech City”.
The firm claims to be the first of what it calls the “Big Four” to have a permanent space in East London’s Silicon Roundabout, on Old Street, and says its tech team will be in place at the end of January.
Tudor Aw, KPMG’s European head of technology, said the move had been driven through a belief that the tech sector had the potential to create thousands of jobs as well as help other industries grow.
He said that although the UK was already doing a lot in terms of strong tax incentives, R&D tax credits and entrepreneur incentives, “a lot remained to be done” before the UK tech hubs could rival California’s Silicon Valley.
The KPMG team will provide advice for early stage tech companies. This includes providing a conduit for accessing the knowledge of KPMG.
Staff will also strive to advise companies looking at overseas markets and help out those confused with international trading.
There will also be drop in clinics, seminars and consultancy advice
Tim Kay, KPMG’s Technology Start-up Lead who will head the team in Shoreditch, said the UK tech industry was not yet creative par with sectors such as sport, fashion and music.
“What we have been poor at in the Tech sector, is taking that creativity to a commercial model,” he said. “In order to put the UK on the global map of ‘tech innovation hotspots’ we need to act now.”