Google has leased a seven-storey building in east London’s ‘Silicon Roundabout’, where it will offer office space and assistance to new technology companies.
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The news is a major boost to David Cameron’s plans to turn the area into ‘one of the world’s great technology centres’ and a rival to California’s Silicon Valley.
The building, located near the Old Street roundabout, will host training workshops, product demonstrations and ‘hackathons’ in addition to providing workspace for new companies.
It is due to open next year after millions of pounds’ worth of refurbishment.
‘Finding a suitable building is the first major step, and we hope to announce more details about the organisations we’ll work with and how they will use the space in the coming months,’ said David Singleton, Google UK’s engineering director.
‘East London is already home to hundreds of innovative British start-ups, and has huge potential for economic growth and new jobs over the coming years.’
Chancellor George Osborne said the investment was ‘great news’, adding: ‘It shows that we can create the right environment to attract start-ups and established hi-tech businesses.’
Last November the prime minister announced his £400m Tech City initiative to turn the area surrounding around Old Street into a creative hub for technology companies.
Google’s UK headquarters are currently in central London and the California-based company has stressed that it has no plans to relocate.
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