Berlin woos London IT firms in wake of Brexit

Pre-referendum predictions that Berlin will benefit from banks relocating if Britain votes for Brexit isn’t enough for the German city, as it is understood to be luring UK IT companies.

In fact, “hundreds” of London-based technology start-ups have received invitations from Be Berlin, a body dedicated to promoting the German capital, the Times reported yesterday.

Reportedly bearing the signature of Cornelia Yzer, Berlin senator for economics, tech and research, the invitations warn the IT firms that Brexit “will severely affect your operations”.

In return for moving to Germany’s “Digital Capital,” the firms are apparently pledged public funds, on top of all the perks that go with being located “right in the heart of the European Union.”

The invitations might seem well-timed amid Brexit-induced “economic turbulence,” but they coincide with an all-clear for London to build Europe’s “biggest, boldest and most ambitious” IT innovation centre.

To open in January 2017, the centre at the Olympic Park will accommodate 500 companies (both large and small), and will have the capacity to spin-out scaling firms into other spaces across the 68,000-square-foot estate.    

Paul Goswell, managing director of specialist real estate firm Delancey, one of two firms behind the currently unnamed centre said: “Brexit or otherwise, we believe that London's technology sector is only going from strength to strength and are pleased to play a small part in supporting it to do that.”