Prime minister David Cameron has set out his vision for the East End of London after the Olympics in 2012.
He outlined a positive role for IT companies in the creation of the East End Tech City, a potential rival to Silicon Valley. Intel, Google and Facebook have all committed to opening research labs or innovation centres in the area and consulting firm McKinsey has also expressed an interest. Among other names mentioned were BT and Cisco.
Vodafone has said that it will also help to develop an incubator for leading-edge ideas, with backing from its global innovation centres.
Google has pointed out the need for changes to the copyright law, pointing out that it would not have been possible for a company like itself to have been developed in the UK. Cameron has promised that he will review the current laws.
Announcing the plans to a gathering of business people and entrepreneurs, he repeated what Google had told him, “The service they provide depends on taking a snapshot of all the content on the Internet at any one time and they feel our copyright system is not as friendly to this sort of innovation as it is in the United States. Over there, they have what are called ‘fair-use’ provisions, which some people believe gives companies more breathing space to create new products and services.”
The promised review was welcomed by Jim Killock, executive director of the Open Rights Group (ORG). He said, “The Digital Economy Act left a massive hole of missing user rights, like personal copying and parody. It’s great to have the opportunity to make the case for modern copyright that works for citizens, artists and innovation.”
Cameron also said, “Our ambition is to bring together the creativity and energy of Shoreditch and the incredible possibilities of the Olympic Park to help make East London one of the world’s great technology centres.”
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Neil Rami, head of Business Birmingham, the city’s inward investment programme.
“It’s unclear how the rest of the UK will be affected by what looks like a move towards consolidating the technology industry. Technology start-ups can find good value rents, excellent business facilities, networking opportunities and free mentoring at science parks across the UK. It is vital that the East London technology hub has spin-off benefits for the rest of the UK and does not cannibalise thriving technology industries outside of London and the South East.”
the green enterprise zone could be a great way to give some shape to the currently ambiguous regeneration of east london. the stratford westfield (now sold to investors) does seem like a massive folly at present. where is the market for it? if prestige businesses can be attracted to the area, things could change quite rapidly.
that said, neil rami is clearly correct that this poses a threat to other parts of the uk with their digital industry hubs, but...
there is a very big question about how many of the subsidised digital start-up spaces, reduced rates, and grant programmes across the country will be able to survive given the fiscal retrenchment.
i understand that the government is going ahead with a set of networked innovation centres for high growth firms based on a german model. this may be able to support a distributed hi tech research capability, but it will not be anything like the scale of current public investment.
You've got to ask - Why?
There's already a significant presence in and around Cambridge - the so called 'Silicon Fen' - which can only be adversely affected by the creation of another similar environment little more than 30 miles away.
Add in the high cost of living in the East London area, and this will probably be a short-term success. Big business - Google et al, will move in with generous subsidies from the British government, then leave as soon as their supported rents are withdrawn.
You're the geaertst! JMHO
bah Cambridge and manchester are already IT hubs, if Cameron left london once in a while he would know this