Tesco to invest in Rainmaking Loft tech hub for start-ups
Tesco, one of the UK’s (and the world’s) largest retailers, has announced plans to actively participate in the development of a start-up incubator on the fringe of Tech City, next to Tower Bridge.
According to a news report on the matter, Tesco plans to sponsor The Loft in St Katherine’s Docks, which opened at the start of July and is currently home to about 60 young media and technology developers.
"We provide financial support to set up the infrastructure and in return we get to draw on the collective creativity of the entrepreneurs and technologists there from time to time," Robin Terrell, multi-channel director at Tesco, wrote on the company’s blog.
The 10,000 square foot, not-for-profit facility is said to be able to accommodate up to 170 technology entrepreneurs looking for desk space, support and collaborative partners.
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