East London Tech City
Encyclopedia
East London Tech City is a technology hub located in London
, United Kingdom
. Tech City broadly occupies the part of London's East End
between Old Street
and the Queen Elizabeth Olympic Park in Stratford
. Cisco Systems
, Facebook
, Google
, Intel Corporation
, McKinsey & Company
and Vodafone
are among the companies which have committed to invest in the hub. Imperial College London
, Loughborough University
and University College London
have agreed to be academic partners of the hub. The hub is modelled on Silicon Valley
in the United States
.
David Cameron
in a speech given in east London on 4 November 2010. A year later, Cameron announced that he was appointing entrepreneur Eric van der Kleij
to lead the initiative. By 2011, approximately 200 high-tech firms were occupying the area, signifying a rapid increase in interest.
has agreed to accelerate the roll-out of superfast broadband in the hub area. Cisco Systems
has agreed to establish an Innovation Centre in the Olympic Park focusing on technical excellence. Facebook
has agreed to create a base for their Developer Garage programme in the hub. Google
has agreed to create an Innovation Hub in East London to develop next-generation applications and services (whilst retaining its UK headquarters in central London
). Imperial Innovations
, the technology-transfer company of Imperial College London
, has agreed to advise on the creation of an accelerator space for spinout companies at the Olympic Park. Intel Corporation
has agreed to establish a new research lab in the hub focusing on performance computing and new energy efficiency technologies. Loughborough University
and University College London
have agreed to work with the Olympic Legacy Company to establish a bridge between academia and enterprise in the Olympic Park. McKinsey & Company
has agreed to provide advice on the creation of the hub and to help to new companies starting out in the area. Qualcomm
has agreed to provide intellectual property advice to start-up companies based in the hub. Silicon Valley Bank has agreed to establish a UK-based bank to provide financing for technology and life science companies based in the hub. Vodafone
has committed to bring its Vodafone Ventures investment fund to the hub.
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. Tech City broadly occupies the part of London's East End
East End of London
The East End of London, also known simply as the East End, is the area of London, England, United Kingdom, east of the medieval walled City of London and north of the River Thames. Although not defined by universally accepted formal boundaries, the River Lea can be considered another boundary...
between Old Street
Old Street
Old Street is a street in east London that runs west to east from Goswell Road in Clerkenwell, in the London Borough of Islington, to the crossroads where it intersects with Shoreditch High Street , Kingsland Road and Hackney Road in Shoreditch in the London Borough of Hackney.The nearest...
and the Queen Elizabeth Olympic Park in Stratford
Stratford, London
Stratford is a place in the London Borough of Newham, England. It is located east northeast of Charing Cross and is one of the major centres identified in the London Plan. It was historically an agrarian settlement in the ancient parish of West Ham, which transformed into an industrial suburb...
. Cisco Systems
Cisco Systems
Cisco Systems, Inc. is an American multinational corporation headquartered in San Jose, California, United States, that designs and sells consumer electronics, networking, voice, and communications technology and services. Cisco has more than 70,000 employees and annual revenue of US$...
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...
, Intel Corporation
Intel Corporation
Intel Corporation is an American multinational semiconductor chip maker corporation headquartered in Santa Clara, California, United States and the world's largest semiconductor chip maker, based on revenue. It is the inventor of the x86 series of microprocessors, the processors found in most...
, McKinsey & Company
McKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
and Vodafone
Vodafone
Vodafone Group Plc is a global telecommunications company headquartered in London, United Kingdom. It is the world's largest mobile telecommunications company measured by revenues and the world's second-largest measured by subscribers , with around 341 million proportionate subscribers as of...
are among the companies which have committed to invest in the hub. Imperial College London
Imperial College London
Imperial College London is a public research university located in London, United Kingdom, specialising in science, engineering, business and medicine...
, Loughborough University
Loughborough University
Loughborough University is a research based campus university located in the market town of Loughborough, Leicestershire, in the East Midlands of England...
and University College London
University College London
University College London is a public research university located in London, United Kingdom and the oldest and largest constituent college of the federal University of London...
have agreed to be academic partners of the hub. The hub is modelled on Silicon Valley
Silicon Valley
Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
History
In 2008, there were around 15 high-tech companies in close proximity of the Silicon Roundabout, which forms the heart of Tech City. Plans to help accelerate the growth of the hub were announced by Prime MinisterPrime Minister of the United Kingdom
The Prime Minister of the United Kingdom of Great Britain and Northern Ireland is the Head of Her Majesty's Government in the United Kingdom. The Prime Minister and Cabinet are collectively accountable for their policies and actions to the Sovereign, to Parliament, to their political party and...
David Cameron
David Cameron
David William Donald Cameron is the current Prime Minister of the United Kingdom, First Lord of the Treasury, Minister for the Civil Service and Leader of the Conservative Party. Cameron represents Witney as its Member of Parliament ....
in a speech given in east London on 4 November 2010. A year later, Cameron announced that he was appointing entrepreneur Eric van der Kleij
Eric van der Kleij
Eric van der Kleij is a British entrepreneur who is currently chief executive of Tech City Investment Organisation—the organisation for the development of East London into a global centre for technical entrepreneurship.-Early life and career:...
to lead the initiative. By 2011, approximately 200 high-tech firms were occupying the area, signifying a rapid increase in interest.
Participants
Barclays has agreed to create a new facility to provide specialist banking services to technology companies based in Tech City. BTBT Group
BT Group plc is a global telecommunications services company headquartered in London, United Kingdom. It is one of the largest telecommunications services companies in the world and has operations in more than 170 countries. Through its BT Global Services division it is a major supplier of...
has agreed to accelerate the roll-out of superfast broadband in the hub area. Cisco Systems
Cisco Systems
Cisco Systems, Inc. is an American multinational corporation headquartered in San Jose, California, United States, that designs and sells consumer electronics, networking, voice, and communications technology and services. Cisco has more than 70,000 employees and annual revenue of US$...
has agreed to establish an Innovation Centre in the Olympic Park focusing on technical excellence. Facebook
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
has agreed to create a base for their Developer Garage programme in the hub. Google
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...
has agreed to create an Innovation Hub in East London to develop next-generation applications and services (whilst retaining its UK headquarters in central London
Central London
Central London is the innermost part of London, England. There is no official or commonly accepted definition of its area, but its characteristics are understood to include a high density built environment, high land values, an elevated daytime population and a concentration of regionally,...
). Imperial Innovations
Imperial Innovations
Imperial Innovations is a British technology transfer and commercialisation company. The company was founded in 1986 and its ordinary shares admitted to trading on the Alternative Investment Market of London Stock Exchange plc in July 2006, raising £25 million at an offer price of 365p and £1...
, the technology-transfer company of Imperial College London
Imperial College London
Imperial College London is a public research university located in London, United Kingdom, specialising in science, engineering, business and medicine...
, has agreed to advise on the creation of an accelerator space for spinout companies at the Olympic Park. Intel Corporation
Intel Corporation
Intel Corporation is an American multinational semiconductor chip maker corporation headquartered in Santa Clara, California, United States and the world's largest semiconductor chip maker, based on revenue. It is the inventor of the x86 series of microprocessors, the processors found in most...
has agreed to establish a new research lab in the hub focusing on performance computing and new energy efficiency technologies. Loughborough University
Loughborough University
Loughborough University is a research based campus university located in the market town of Loughborough, Leicestershire, in the East Midlands of England...
and University College London
University College London
University College London is a public research university located in London, United Kingdom and the oldest and largest constituent college of the federal University of London...
have agreed to work with the Olympic Legacy Company to establish a bridge between academia and enterprise in the Olympic Park. McKinsey & Company
McKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
has agreed to provide advice on the creation of the hub and to help to new companies starting out in the area. Qualcomm
Qualcomm
Qualcomm is an American global telecommunication corporation that designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access technology and other technologies. Headquartered in San Diego, CA, USA...
has agreed to provide intellectual property advice to start-up companies based in the hub. Silicon Valley Bank has agreed to establish a UK-based bank to provide financing for technology and life science companies based in the hub. Vodafone
Vodafone
Vodafone Group Plc is a global telecommunications company headquartered in London, United Kingdom. It is the world's largest mobile telecommunications company measured by revenues and the world's second-largest measured by subscribers , with around 341 million proportionate subscribers as of...
has committed to bring its Vodafone Ventures investment fund to the hub.
See also
- Silicon FenSilicon FenSilicon Fen is the name given to the region around Cambridge, England, which is home to a large cluster of high-tech businesses focusing on software, electronics, and biotechnology...
- Silicon GlenSilicon GlenSilicon Glen is a nickname for the high tech sector of Scotland. It is applied to the Central Belt triangle between Dundee, Inverclyde and Edinburgh, which includes Fife, Glasgow and Stirling; although electronics facilities outside this area may also be included in the term. The term has been in...
- Skolkovo innovation center
- St John the Baptist, HoxtonSt John the Baptist, HoxtonThe Church of St John the Baptist, Hoxton, usually known as St John's Hoxton, is an urban Anglican church in Hoxton, Hackney, a host borough of London2012....