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Patents neglected by London’s "Tech City" - International Report

International Asset Management - Patent filings are often cited as an indicator of innovative activity. In the recent past there are many good examples where growth in patent filings has mirrored the emergence of new technologies or technology growth in a particular location. Notable examples are the growth in patent filings out of California’s Silicon Valley in the 1990s and early 2000s (from less than 5% of total US patent filings in 1990 to more than 12% in 2006), and the fivefold increase in computer software and business method-related patent applications filed between 1997 and 2003 (based on Patent Cooperation Treaty (PCT) filings in selected International Patent Classification (IPC) classes).

Fast-forward to 2013 and London is being touted as a hub for technological innovation, particularly the area around Old Street on the east side of the city – the so-called “Silicon Roundabout”. In December 2012 UK Prime Minister David Cameron announced £50 million of government investment to regenerate the area with a civic space dedicated to start-ups and entrepreneurs. Google, Microsoft, IBM and others have all made commitments to the area. So what has happened to patent filings of the past few years since the inception of "Tech City"?