'Lots of failed startups came out of Campus': Google axes London hub because startup scene 'doesn't need' another 7 floors of workspace

The COVID-19 pandemic has claimed another casualty: Google Campus, the flash Shoreditch startup hub launched in 2012 to grow London's tech scene.

Google said the pandemic had "demonstrated" it could somehow support the startup community without occupying a seven-storey building in the heart of Central London. The shift to remote working, it added, had allowed it to support fledgling businesses beyond the perimeter of the Tube network.

Lots of failed startups came out of Campus, man. People went there assuming they'd find co-founders and investors. Sometimes it was true, but most of the time it wasn't...

Google also noted the existence of competition from other accelerators and co-working spaces. When the service first launched, WeWork hadn't yet reached the level of ubiquity it now enjoys, San Francisco was still the shining city on the hill, and London had more Angus Steakhouses than accelerators. Now the English capital is a tech hub - at least from investors' point of view - with its startups collectively raising £7.6bn in venture capital funding during 2020 alone.

"Today's founders in London are part of a vibrant ecosystem of 250+ coworking spaces, 35+ accelerators, corporate programs, and thousands of startups providing services to each other," Google said. "The UK startup community doesn't need access to a single shared physical space as much as it needs access to resources, mentors, and programs available at scale, anywhere."

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