The UK’s Prime Minister David Cameron announced the ambitions of the UK government to create a new technology center in the eastern part of London. The East London Tech City, as the project is called, is going to be an innovation and high-tech business incubator, rivaling the Silicon Valley in San Jose, California. Although there are certain questions and concerns, the technology and financial worlds seem to be excited about the idea. Support has already been declared by tech companies like Google, Facebook, Cisco and Intel, academic institutions and R&D centers like Imperial College London, University College London and Loughborough University, and financial institutions like Barclays, Vodafone and Silicon Valley Bank. Building a world-class technology hub right next to the one of the world’s financial capitals is definetely a strong move.
The plan is also backed by a very clear message to the brightest minds on the planet:
In every classroom or laboratory where a bright idea is born, every bedroom where a business case is put together, if you’ve got an idea, if you want to create jobs, and if you have the ambition to build a world beating company here in the UK, We want you; we’ll make it easy for you; we’ll put out the red carpet for you. With our new Entrepreneur Visa we want the whole world to know that Britain wants to become the home of enterprise and the land of opportunity.