East London Tech City announced

Prime Minister David Cameron yesterday set out the Government’s ambition to replicate the success of Silicon Valley in the London’s East End.

The PM said: “We’re not just going to back the big businesses of today, we’re going to back the big businesses of tomorrow. We are firmly on the side of the high-growth, highly innovative companies of the future. Don’t doubt our ambition.”

An Entepreneur Visa was also announced, allowing people with great businesses ideas and financial support to set up shop in the UK. This is likely to give UK entrepreneurs access to overseas talent and bring creative minds closer together. Something we all hope works out.

Glenn Shoosmith, co-founder of BookingBug, had a few words on how yesterdays conference:

“I was pleased to be able to speak to the Prime Minister about some of the challenges facing tech startups here in London, and what he can do to help. Although this new initiative is a good step in the right direction, much will have to be done of the next few years to grow and build the area; but with the Olympics they have a commitment to creating a sustainable legacy. I got to talk about something which is close to BookingBug, the difficulties of Government procurement, and the complex steps and details involved for even the simplest of projects.

The tendering processes are often long and confusing, and the requested services already out of date, ‘there is no tender process for innovation‘ I told the Prime Minister, spelling out that the private sector will always look for and take advantage of innovative ideas and approaches, while the structure of government procurement, works to stifle and block innovation – something I would be delighted to see change”

Transcript of East End tech city speech

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