East London Poised to Become a 'Tech City'

The British government hopes to create a Silicon Valley rival in London’s East End, and it will have help from leading tech firms in its effort.

Earlier this month, British Prime Minister David Cameron announced the government’s ambitions for the area to become a “tech city,” with investment from Google, Vodafone, Facebook, Intel and McKinsey & Co., conversion of facilities to office space after the 2012 Olympics there, and establishment of an entrepreneur visa to encourage companies to locate there.

Cameron said the government has had dozens of meetings with technology companies and venture capital investors from around the world and has received an overwhelming response. “We said to them: ‘Here’s our vision for East London tech city – a hub that stretches from Shoreditch and Old Street to the Olympic Park. This is what local businesses are saying they need. What part can you play in making it happen?’ ”