Sprucing up Silicon Roundabout

Silicon roundabout

David Cameron and Boris Johnson have unveiled plans to transform Silicon Roundabout - or rather Tech City as the government likes to call it.

A number of major international firms announced new investments in the east London technology cluster , but the big news is about the roundabout itself.

The Old Street roundabout, the busy and undistinguished traffic intersection which is the focus for Tech City, is to be given a complete makeover.

What we're promised is what the prime minister described as "the largest civic space in Europe - a place for start-up companies and the local community to come together and become the next generation of entrepreneurs".

An excited Downing Street advisor tells me that this will become a focal point for the creative and technology types who inhabit the streets of Shoreditch and the fringes of the City.

"There'll be 3D printing labs, artists and designers will drop in," he explains. With the 3D printing revolution taking off, he paints a picture of a new age of digital manufacturing, starting in the London cluster but spreading out across the UK.

Old Street roundabout London's Silicon Roundabout - in need of a makeover?

The pictures of the plans certainly look a lot more attractive than what is there at the moment, and Tech City could do with a landmark venue - something for television reporters to use as a recognisable image, and a place to take visiting investors to prove that there's more to the area than a few web designers getting together over a latte.

But this does not come cheap - the government is investing £50m in the new building, and what is described as the "peninsularisation" of the area around the roundabout. There will be further contributions from Boris Johnson's budget and hopefully from the private sector.

If you were a start-up technology company in a cluster elsewhere in the UK - in Dundee or Guildford or Cambridge - you might ask why yet more money and attention was being focused on London.

Silicon Valley and its imitators

The term "Silicon Valley" was coined in the 1970s to describe the Santa Clara Valley in the San Francisco Bay area, where a number of technology companies were based. It now describes the US tech sector as a whole, and has given rise to several international imitations - here are a few:

  • Silicon Wadi - Israel
  • Cwm Silicon - Wales
  • Silicon Sloboda - Moscow
  • Silicon Savannah - Kenya
  • Silicon Welly - Wellington, NZ

Mind you, the other day I asked one of the leading lights of the Cambridge technology scene whether he was jealous of the spotlight shone on Tech City. He smiled, and said Cambridge didn't really need to worry as it had lots of real hi-tech firms started by scientists, rather than what he dismissively described as the "munchkins" starting businesses in east London.

Still, Downing Street believes that the decision by the prime minister two years ago to throw his weight behind the east London cluster is already paying off.

"Berlin, Paris - they've nothing like this," I am told. The government says there has been a huge increase in the number of start-up technology firms in East London since it got involved in promoting the area.

What we have not yet seen is whether any of them can grow into the world class companies that have emerged from some of Britain's other tech clusters.

Rory Cellan-Jones Article written by Rory Cellan-Jones Rory Cellan-Jones Technology correspondent

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  • rate this

    Comment number 7.

    This isn't a technology hub, it's just a trendy place for arts graduates to pretend to be businesspeople. If it isn't building the Millennium Dome, bailing out banks, spending billions on the Olympics, then they'll have to find some other excuse to pour taxpayer cash into London. They always do.

  • rate this

    Comment number 6.

    I hope Downing Street listens to recent BBC Radio 4 interview with David Richards, CEO of WANDisco: http://news.bbc.co.uk/today/hi/today/newsid_9773000/9773968.stm

    London is already a Financial Hub of the country, now cramming in Technology Hub as well in the city is going to increase living cost there and block organic growth of technology startups.

  • rate this

    Comment number 5.

    Investing £50m in a building in an expensive part of the country which has rich companies already there seems like pandering not investing. How about investing in something productive, innovative and potentially lucrative: graphene, LED's, Algae, Renewables or even just Science Education and see what real innovators turn up...

  • rate this

    Comment number 4.

    Wouldnt it be nice, just for a change invest in OTHER areas of the country?

  • rate this

    Comment number 3.

    The 50m the government is spending on this building is 50% of there investment in to graphene which has potential to create a billion pound industry ten million less than the recent increase in UK funds for ESA look to me like the government is choosing to invest in a shiny new building rather than new industries and companies. you create shiny building after you create new industries not before

  • rate this

    Comment number 2.

    Why bother wasting money on something that doesn't need money spent on it rather than try and spruce up the run down parts all around the UK?

  • rate this

    Comment number 1.

    won't this just add more upward inflation pressures on the cost of renting office space in the area. Why adding very little to tech city that it doesn't already have. I am sure there start-ups which could do a lot with the money being put into this building and deliver better returns on the money. An that kind of money could build an entire technology park in other parts of the country.


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