Irish businesses looking to expand to Britain are being offered free office space in the heart of London with the launch of telecoms company Magnet Networks’ “Brentry” initiative.

Launchpad For London will see 10 Irish companies establish themselves rent-free in London’s new smart city at Wembley Park, while also enjoying the fastest connection speeds in the capital.

“With Brexit dominating the news, it is easy to forget that Britain is our largest trading partner and offers better access to funders, a better attitude to risk and a massive market for many Irish firms,” said Magnet Networks CEO Mark Kellett.

“We believe that 2017 should be the year of Brentry, giving Irish businesses a launchpad into the city that hosts many of the world’s top companies and offers the best place to test your fundraising model, product or service offering.

“Most importantly, Irish companies who are also operating within Britain will be in a stronger position post-Brexit.

“The 10 Irish companies who base themselves at Magnet’s headquarters at York House in the smart city will pay no rent for four months.

“They will have the fastest connection available, direct fibre optic connections from Ireland to their London desks and access to one of the largest Internet of Things and Smart City test beds in the world.

“This a fantastic area, with great connections to central London (15 minutes to Marylebone), Heathrow and the North Circular Road and hundreds of shops and restaurants.

“We are inviting interested companies to log on to launchpadforlondon.ie and complete the simple entry form before Monday April 10.”

Enterprise Ireland Regional Director for the UK and Northern Europe, Marina Donohue, praised the initiative for focusing on the importance of having a UK presence in a post-Brexit Europe.

“The UK is the largest export market for Enterprise Ireland client companies, and will continue to be for the foreseeable future,” she said.

“Having a presence on the ground in the market has always been important, and even more so since the decision was taken by Britain to leave the EU.

“We are proud that an Irish company like Magnet Networks is at the cutting edge of connectivity in Britain and are delighted to encourage Irish businesses to take advantage of this exciting initiative.

“Every year we help hundreds of Irish companies develop and grow their exports in to Britain, many of whom will establish a base here.

“The head start provided by Launchpad for London has the potential to be of huge value to help companies become established in the UK, as well as being well connected.”

Irish company Magnet is at the heart of the 85-acre Wembley Park development, providing all the connectivity to the biggest construction project in Britain this year.

The fibre optic network, created in a joint venture with developers Quintain, has already proved to be a potent lure for start-ups in what is seen as the exemplar for future smart cities.

Wembley Park, which will encircle Wembley Stadium, will feature 5,000 new homes – all connected to high-speed Magnet Networks broadband controlling a range of devices.

Magnet Networks already supplies the fastest 1gb broadband in the capital to events such as the NFL games at Wembley Stadium as well as powering wi-fi at X Factor in the SSE Arena.

“Our network is linked to some of the street furniture on the approach to the ground in one of the biggest wi-fi deployments yet seen,” said Kellett.

“This not only supports public wi-fi but also broadcasters who have access to a private broadcast grade wi-fi platform for live events.

“Irish firms who join the Launchpad For London initiative will be part of a fantastic support network, surrounded by their peers and supported by a company which is at the cutting edge of a range of essential technologies and there to help them.”