Stratford the heart of a new Silicon Valley?

The Olympic Park will be the centre of Government plans to create a world-leading technology city in east London to rival Silicon Valley in California.

Electronics firm Cisco Systems has already pledged to move into the international broadcast and press centre buildings which will form the hub of the East London tech city, stretching from the Stratford park to Shoreditch.

Prime Minister David Cameron also announced during a visit to the Olympic Park on Thursday morning that Vodafone, Google, Facebook, Intel and McKinsey & Co have also committed to invest in the long-term future of the area.

Mr Cameron said: “Right now, Silicon Valley is the leading place in the world for high-tech growth and innovation. But there’s no reason why it has to be so predominant.

“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. I want to show you how we can get there.

“For the past few weeks and months, we have had dozens of meetings with technology companies and venture capital investors from across the world. We said to them ‘Here’s our vision for East London tech city – a hub that stretches from Shoreditch and Old Street to the Olympic Park. This is what local businesses are saying they need. What part can you play in making it happen?’ I have to say the response has been overwhelming.”

Cisco wants to establish an Innovation Centre in the building on the west side of the Park where it would develop their smart and connected community solutions.

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The centre will also provide office space for east London start-up companies.

Imperial Innovations, the venture capital arm of Imperial College London, has been drafted to make sure this space is attractive to businesses and University College London is to help the Olympic Park Legacy Company build a student presence in the Park, focusing on entrepreneurship and accommodation.

Loughborough University is also on board to develop plans for an Institute of Sport for Health that would bring together business and sport, creating new companies combining these fields.