In this period of economic crisis the government of U.K has decided to spend about 50 million for restoration of Silicon Roundabout area in the east end of London. This money will be utilized to establish a “civic space” which will be dedicated to the entrepreneurs and start-ups in East of London.
The detail of this project is given by Tech City Investment Organization in a blog post. This organization manages the London’s high tech cluster. According to the post by TCIO the building will be used to organize co-working spaces, classrooms and workshops. These will be equipped with the recent 3D printing technology which can be used by the local start ups and the community out there. The Tech City Map shows that high tech cluster contains over 1,300 companies.The project will deliver the ollowing services:

  1. Training about 10,000 students in enterprise and coding through courses like TeenTech, Coder Camp, Computer Science for Fun, etc
  2. Core staff who are running the centre will get 15 to 20 new jobs
  3. Boardrooms, 400 seat auditorium, 3D printing centre, workspaces and labs.
  4. Sessions regarding advanced skill development for five hundred peers per year.
  5. Helping over 1,000 people to get skilled employment in partnership with Hackney Community College, Ranaisi etc per year.
  6. Expansion of Digital Shoreditch Festival to adjust the audience of about 200,000
  7. Providing facilities to host investment missions.

The exact location of this new building in the East London is still not known but according to the TCIO post the site for this building is Old Street Roundabout. The press officer of office of Mayor of London told TechCrunch that the building will not be located at the roundabout as it has a big electricity substation. The Greater London Authority is in search of a suitable site for this building.

The date for starting the construction is not known. TCIO said that GLA wants to start building by the year 2014.

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