Research by Nominet Trust found that, contrary to popular belief in the capital, the largest number of British entrepreneurs are 55 years and over, rather than 20-somethings like Facebook's Mark Zuckerberg and Twitter's Jack Dorsey.
The findings come as the charity urges over 65s in the region to innovate online.
Its research found that perceptions of how older people use the internet and what they have to offer are largely incorrect. It found that most people believe over 65s are luddites when, in fact, this age group has the fastest growing number of users of digital and social media.
Nominet Trust's Ageing and the Use of the Internet report highlights that there is huge potential to mobilise our ageing population's enterprise and digital savvy to use the internet to address social problems in their lives and communities. In particular, the report shows there is a pressing need for products, services and technologies for older people designed by older people.
For this reason, Nominet Trust is launching a £250,000 challenge, with funding and support available for the strongest projects that could work with older people to: use the internet to address specific social problems facing older people; design new and better ways for older people to get on to and use the internet; and develop and use technologies which older people feel comfortable with.
The Nominet Trust is calling for bright sparks in London to come forward.