UK Tech Businesses Don't Need Silicon Roundabout Postcode to Succeed
London's Silicon Roundabout is home to hundreds of tech-based start-upsReuters

The UK start-up scene has entered a golden age with London "Europe's leading place for technology innovation", according to an entrepreneur.

Elizabeth Varley, co-founder and CEO of UK start-up platform TechHub, spoke to IBTimes UK about the network's recent US launch and the state of the UK start-up scene.

"I think this is an incredibly strong time for UK tech start-ups," Varley said. "We've seen a boom in the industry over the last five years and this is giving us experienced entrepreneurs and growing businesses.

"Having more serial entrepreneurs in the industry only helps to strengthen it for everyone as entrepreneurs are incredibly generous with their time and expertise to help both each other and those just starting out."

Varley's comments come in the same week that 90 UK tech entrepreneurs pledged their support for the Conservative government in an open letter ahead of the General Election.

London start-ups are thriving but some have accused them of "selling their souls" to US companiesIBTimes UK

The group – which included Alex Chesterman from Zoopla, Eric Van Der Kleij from Level 39, and Joanna Shields from Tech City – praised the Tory-led coalition's schemes to boost investment in start-ups and encourage innovation and entrepreneurialism.

"Thanks to colleagues and customers we have started and grown great British businesses," the letter read. "But our success has also been helped by the government's support."

Despite some of the schemes put in place, the letter received criticism from some small business owners, who claimed that the government initiatives broadly favoured larger corporations.

"I run a small business and I have found nothing the Tories have done has made it any easier," said Simon Gosden, head of Fantastic Literature. "Large businesses continue to pay little or no corporation tax, even though they undercut us as they are based in convenient European locations.

"The last five years have been hard for us and the notion that 'we are all in together' is not true. Large businesses get richer, often using taxpayers' money to subsidise low wages, while little firms really struggle."