London lures Canadian tech startups with tax incentives, grants [June 18, 2012]

Submitted on
Monday, June 18, 2012
,
Financial Post

The promise of billion-dollar exits and splashy stock offerings have long lured tech entrepreneurs to the southern San Francisco Bay area and prompted other metropolitan areas to try to create their own innovation-based sectors.

Tech City in east London, England, is one such example and some Canadian startups looking to tap into larger markets are bypassing the original Valley and instead heading east across the Atlantic.

Hossein Rahnama, founder and chief executive of Flybits based out of Ryerson University’s Digital Media Zone (DMZ) in Toronto, said he decided to set up a second office in London because it was similar to the company’s home city in many ways.

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