Tory chairman hails London tech scene as Intent Media establishes presence

Tory Party chairman Grant Shapps heralded the decision by Intent Media to set up its European headquarters in London.

Tory Party chairman Grant Shapps heralded the decision by Intent Media to set up its European headquarters in London.

The coalition government minister performed the ceremonial ribbon-cutting ahead of a Travolution round-table at Ham Yard Hotel, London, last week.

Intent Media, established four years ago, has raised $50 million in funding after working with major US travel OTAs, helping them monetise to the traffic they drive to their sites.

Shapps said attracting firms such as Intent Media was testimony to how London is seen as a place where businesses want to establish themselves.

“Five years ago Tech City did not exist but now we’re seen as Europe’s pre-eminent place to invest if you’re in travel technology.

“As well as London, we have tech hubs in Cambridge, Bristol and Manchester doing amazing things.

“It’s a source of great pride that within five years we have come from almost nowhere to be the European leader.”Shapps said that enticing the best from overseas, like Intent Media, would also help nurture local start-ups and encourage them to remain and grow within the UK.

“We are a trading nation. That’s what we do and we should be confident about that idea. London has cheaper competitors in eastern Europe but employees want to work here.”