In the run up to London Tech Week in June, the capital’s tech leaders reported that diverse teams drive profitability, innovation and building better products.
Nearly nine in ten tech business leaders believe hiring and retaining a diverse workforce is vital to driving innovation and growth, research shows.
As one of the most diverse cities in the world, London leads the way in tech innovation with a thriving industry city-wide – from its beginning in the creative mecca of Old Street, to the Canary Wharf fintech cluster and the knowledge hub in Kings Cross. London has seen more tech foreign investment projects than any other city globally over the past decade, and total venture capitalist funding has soared since London Tech Week 2014 from £2.4bn to £22.4bn in 2022.
Ahead of Tech Week 2025, the capital’s growth agency, London & Partners, released new data from a survey ofdomestic and international tech business leaders showing the majority are now more focused on building diverse teams than they were a year ago.
- More than six in ten (61%) tech business leaders said that they have made inclusive recruitment and retention significantly more of a priority over the past 12 months
- Nearly nine in ten (88%) said that over the next three years, inclusive recruitment and retention will be key to driving innovation, creating better products and services, as well as positively impacting their bottom line – profitability
- Nearly half (48%) said that London’s diverse workforce is an asset to their business
- Almost half (46%) believed that it will be very impactful for their company’s growth
- 44% said it helps them better understand their customers and the broader culture their business operates in
- More than two in five (43%) said they can attract top talent from other countries where inclusive recruitment is less of a priority – giving London a real advantage on the global stage
- And 41% said that diverse teams help their business adapt to and adopt new technologies such as AI
This information came as London Tech Week brought together the world’s most inspirational founders, corporate heavyweights, government leaders, investors and the next generation of tech superstars.
Convening at London Olympia, delegates came together from all over the world to explore growth and investment opportunities.
Inclusivity and diversity were key themes, with talks covering the future of inclusion and the business case for diversity in Europe. Speakers included British tech icon Martha Lane Fox, BT Group CEO Allison Kirkby, and Flavilla Fongang, CEO of Blackrise, a social business platform that connects Black professionals and entrepreneurs with the global marketplace.
Diversity and inclusion were also key parts of the London Growth Plan – London has one of the most diverse populations in the world, making it an ideal living testbed for innovation – from product fit and digital use cases to clinical trials. This provides a competitive advantage for companies looking to drive innovation and grow here.
London is committed to ensuring that all Londoners can contribute to the city’s future growth. Initiatives like London & Partners’ ‘Grow London Talent’ programme help businesses find, hire and upskill Londoners from all backgrounds for roles in tech.
Across the city, organisations like Diversity VC are working to unlock economic potential for all by shaping a fairer venture capital ecosystem. Meanwhile, 1000 Black Voices – an initiative that seeks to revolutionise the start-up ecosystem – is working to empower inclusive perspectives at the heart of technology development and advancement.
Mayor of London, Sir Sadiq Khan, said: “Diversity is one of London’s biggest strengths and by embracing it we have made London one of the best cities in the world to do business. It’s great to see business leaders recognising the importance of inclusive teams and basing themselves in the capital. They know, as we do, that London’s diverse workforce is an asset to their business and is key to driving innovation. Recruiting world-class talent is an important part of London’s Growth Plan, which will turbocharge the capital’s productivity, unlock its full potential and help us to build a better, fairer and more prosperous London for everyone.”
Janet Coyle CBE, Managing Director of Grow London at London & Partners, said: “These findings show that tech leaders see inclusive hiring as essential, not optional. London embraces this fully. Diversity is our superpower. Here, students, entrepreneurs, founders and businesses thrive because diversity is at the heart of the London experience. This is what London is built on, and it’s this mix of people, ideas and cultures that will shape the future – just as it has for generations.”
Baroness Martha Lane Fox of Soho CBE, said: “It’s simple – multiple perspectives build better tech and drive higher profits. Right now, the UK has a huge opportunity to be intentional about inclusion. But we need more business and tech leaders to step up and make it happen now. Tech is moving fast and we can’t afford to drag our heels.”
Liz Hutchinson, CEO of London Higher, added: “It’s no surprise that businesses view London’s diverse workforce as a key asset. The city’s wide range of higher education institutions – from specialist conservatoires and research institutes to large, multi-faculty universities – contributes to a rich, varied and highly skilled talent pool entering the workforce upon graduation. London remains the top destination for students from around the world, giving businesses confidence that the graduates they hire represent some of the best global talent available.”
Find out more on the London and Partners website.
