Is London the new Silicon Valley?
What and Where is Silicon Valley?
First of all, we have to know what is Silicon Valley before we can answer the question “Is London the new Silicon Valley?”
Silicon Valley is a location of America that is the technological hub of the US. It is found in San Francesco, Carlifornia.
Silicon Valley consists of computer companies and chip manufacturers. It got its name from the many items manufactured using silicon which is also used to manufacture several computer chips.
As many technological experts predict, London is set to take over the technology scene I time. Focused on giving America’s Silicon Valley some competition, British government’s plans to set up a technology hub in London is all what most technology understanding people are talking about.
Silicon Valley’s long glory for being the hub of technological giants is facing some serious competition as many technological tycoons like Facebook and Google are relocating to Silicon Roundabout in East London.
CISCO and Intel and other companies have also invested in the area. This is a serious challenge to the Silicon Valley in the USA and might just be the indication that America is losing the game to Britain, London.
The Silicon Roundabout located in East London hence also known as East London Tech City is a technology district located in East London. Due to high technology that is going on there, it is posing serious threat to the Silicon Valley and may take over in future to become the new ‘Silicon Valle’.
This is also due to both local and national government supporting its growth with the aim of creating a band comparable or even better than the Silicon Valley.
In 2016 alone, 100 companies started-up in Silicon Roundabout creating more than 500 jobs and also more than 1,500 developers came a long, including Mark Zuckerberg of Facebook moving Facebook to East London Tech City from Harvard.
Former Prime Minister of the United Kingdom (UK), David Cameron also got plans underway for top UK universities to contribute towards the growth of the technology centre. This is evident by the universities surrounding the area which are involved in research like The Imperial College of London and Metropolitan University and Queen Mary University of London among others.
He also pledged 200 million pounds of equity finance for businesses that have high growth potential in the area. Currently, the Silicon Roundabout has over 16,650 companies.
Some of the top technological companies that are found in the East London Tech City include 7digital, which aids in music download, Soundcloud, which is an online audio distribution platform, TweetDeck which allows users of Twitter to customize their tweets and;
Avoiding Mass Extinctions Engine (AMEE.com) which is a software project that captures data to calculate and track the carbon footprint of companies and organizations and Microsoft is also setting up a technology centre near Silicon Roundabout among others.
This is a great evidence that London is rivalling the Silicon Valley and may just take over. With all these, it may be just a matter of time before London overtakes Silicon Valley in form of Silicon Roundabout.