The technology co-working space provider Techspace is to expand its presence in the Tech City area of London by 25 per cent, the company has announced.
The expansion comes amid growing demand from the thriving tech startup scene for work spaces within environments filled with like-minded businesses.
Techspace London will now be capable of providing 10,000 square feet of space for up to 50 startups in the capital looking for short-term office rental.
"We attribute the upsurge in demand of businesses looking to set up in Techspace to our central Tech City location, fast and reliable fibre internet connectivity and meaningful member engagement," said David Galsworthy, founder of Techspace London.
"Emerging tech businesses like working alongside others who are on a similar growth path, and our members have created a community that is ripe for collaboration."
Since forming last year, Techspace London has already experienced 300 per cent growth and is aiming to have enough space for 200 startups by March of this year.
The benefit for startups is that the spaces on offer can be leased for short periods, depending on the needs of the company, as well as the chance to network with similar businesses.
"We needed an office that wouldn't require a large upfront payment, a long lease or a lot of admin time to set up," said James Pattison, CEO of Startup Direct.
"Techspace provides us with a collaborative environment and occasional peer-to-peer networking opportunities that supports our rapid growth."
Image: Founders of Techspace London (James Laird/ITProPortal)