Google puts trust in Silicon Roundabout
Silicon Valley is regarded by many to be the technology hub of the world. Located in Northern California it is home to the headquarters of companies such as eBay, Facebook and Apple.
However, we could soon see new start-ups flooding to London in a manner that could challenge Silicon Valley’s dominance.
Officially titled Tech City but dubbed “Silicon Roundabout” the area is located on the boundary of the London Boroughs of Hackney and Islington. It is one of the fastest growing technology clusters in Europe at the moment with hundreds of web based businesses that aim to compete with the world’s best tech companies.
In November 2010 David Cameroon announced the plans to create a rival to the California tech hub and was backed by the government with £400m worth of funding to redevelop the area. Companies such as BT, Cisco, Facebook and Google are already showing their support.
It was hoped that Twitter would join the party but they recently announced they are opening a major international office in Dublin instead of east London. The decision was seen as a blow to the Prime Ministers vision for the Tech City but last week Mr Cameron received some good news.
Google, one of the world’s internet giants, has decided to invest heavily in the area. They’re leasing a seven-story building with which they say they plan to “open up the space to other organisations that support technology entrepreneurs, working together to provide a launchpad for new London-based start-ups and developers.”
With over 300 companies now working in the area the future looks bright for Tech City. With Google planning to invest further and more big-name businesses eager to get involved it might not be too long before this silicon proves it’s no fake.
Liked this post? Subscribe to our RSS feed and get loads more!
Do you have an opinion, tip or suggestion related to the above post? Then please let us know by leaving a comment below or send us a Tweet @fasthosts and add the hashtag #fhblog.