Prime Minister David Cameron and Mayor of London Boris Johnson have announced plans for a technical and creative institute in Tech City.
The project will cost £50 million and intends to house 200 startup companies a year. It will host two annual conferences for companies from the technology and creative sector, and will provide a mentoring network for entrepreneurs.
“I am absolutely convinced that the next Steve Jobs, Bill Gates, or Mark Zuckerberg, will hail not from Silicon Valley but from this small corner of London, and it’s my hope that this exciting new centre will be pivotal in their creation,” commented Boris Johnson.
The development, located around Silicon Roundabout in Old Street, aims to help 1,000 young people a year find skilled employment and engage up to 50,000 school children with enterprise programmes such as Coder Camp, TeenTech, and Computer Science for Fun.
“The UK is in a global race and I am determined that we as a government continue doing everything we can to equip the UK to compete and thrive in that race", said the Prime Minister.
“That’s why we’re investing in creating the largest civic space in Europe – a place for startup companies and the local community to come together and become the next generation of entrepreneurs.”
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