[2][3][4] Its main area lies broadly between St Luke's and Hackney Road,[2] with an accelerator space for spinout companies at the Queen Elizabeth Olympic Park.

[5] The 2008–09 recession further suppressed rents through the closure of numerous firms, making it affordable to technology startups, while redundancies from financial services companies, such as investment banks, released a local pool of experienced talent interested in entrepreneurship.

[8][9] Technology companies located in the area in 2008 included Dopplr, Last.fm, Consolidated Independent, Trampoline Systems, AMEE, Skimbit (now Skimlinks), Songkick, Poke London, Kizoom, Redmonk, MOO, LShift, Ket Lai, Solstice and Schulze & Webb.

[1] Plans to help accelerate the growth of the cluster were announced by Prime Minister David Cameron in a speech given in east London on 4 November 2010.

Google said that the building, in Bonhill Street, would host "a range of activities, such as speaker series, hackathons, training workshops and product demonstrations" in addition to providing workspace for new companies.

In 2013, the Nominet Trust selected "5 startups making positive social change" which are based in the cluster: Streetbank, Give What You're Good At, Videre Est Credere, Buddy App and PaveGen.

[16] A report by EY published in 2016 highlighted the importance of London to the UK's FinTech industry in terms of availability of expertise and demand for services.

[17] The earlier activities of the Tech City Investment Organisation and its funding by the then-Mayor of London Boris Johnson hit the headlines in 2019 concerning his connections to American entrepreneur Jennifer Arcuri.