The fast growing technology and media cluster of Croydon has seen 23% growth over the past three years.
The south London borough is now home to 185 technology, media and telecoms (TMT) firms providing jobs to 1,300 employees.
Its growth rate has surpassed the wider London region 17.1% and the rest of the UK by 11.3%, thanks to council initiatives including the Rate Free for a Year campaign, providing business rates to companies moving to Croydon.
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Councillor Vidhi Mohan, cabinet member for Communities and Economic Development at Croydon Council, said: "The growth of the TMT sector in Croydon has been spurred on by the council's £3.5bn investment in the city centre, including 28 new parks and public spaces and major improvements in and around East & West Croydon stations."
The borough is also rolling out a superfast broadband voucher scheme to upgrade SME’s connectivity.
Last year a YouGov report concluded that 70% of London SMEs have been struggling to expand their businesses due to the high costs of the capital, which could explain cheaper areas of London’s outskirts seeing growth for startups.
Jonny Rose, founder of Croydon Tech City, said: "It's an incredible opportunity for early-stage technology start-ups who are finding themselves priced out of East London to get accessible and accommodating office space without having to worry about cost."