Silicon Roundabout, an affectionate nickname for London’s hottest technology hub, refers to the area comprising of Old Street, Shoreditch and Hoxton. Statistics show that 15, 720 new tech businesses launched in the area between March 2012 and March 2013. The government’s “Tech City” initiative, launched in 2010, further boosted investment and growth in the area, starting with a £50m facelift for the Old Street roundabout.
Famous neighbours
Among the illustrious companies who have made East London Tech City their home is Google, who opened their Google Campus in 2012, which is a workspace designed to encourage and support digital start-ups, developers and entrepreneurs.
Online retail giant Amazon also opened an 8-storey, 47,000 sq ft centre in July 2012. Situated in the Glasshouse Yard, the new offices were built to accommodate Amazon’s developers and designers working on the company’s video-on-demand service, LoveFilm.
Other technology companies who have established themselves in the area include Cisco, a manufacturer of networking equipment; Intel, who produce computer chips; and Inition, a UK company that works with 3D technology. Many digital media publishers, marketers and consultants have also flocked to Silicon Roundabout.
Silicon around the world
The “silicon” moniker refers to an area saturated with technology companies and innovators. However, the term originally came about when the San Francisco Bay Area was dubbed “Silicon Valley”, due to the sheer number of computer chip manufacturers – most computer chips are made from silicon.
- Located in the Santa Clara Valley and the southern part of the Bay Area, Silicon Valley rose to prominence as a technology hub in the 60’s and 70’s. A number of semiconductor manufacturers moved into the area, and digital innovators and IT firms followed. Nowadays, the area is home to some of the biggest names in technology, including software innovators, hardware developers and app designers.
- Silicon Glen, meanwhile, is the name given to the Central Belt of Scotland, which hosts a number of technology companies such as IBM, Freescale, Motorola and Microsoft.
- Silicon Fen, otherwise known as the Cambridge Cluster, refers to the area around Cambridge (UK) where a number of biotechnology, IT and electronics firms are based.
- Silicon Plateau, more commonly known as the Indian city of Bangalore, is a national technology hub containing both local and foreign IT companies.
- Silicon Gulf is the nickname for Davao City, located in the Philippines. The development of this technology sector was the result of an initiative launched in 2006, which outlined a plan of collaboration between the government and the IT industry.
Silicon Roundabout office space
What do these kinds of technology companies require from their office space?
- A speedy internet connection is a must. The EE mobile network recently provided the Shoreditch area with double-speed 4G mobile internet connections. BT telecommunications previously established high speed internet broadband in Silicon Roundabout in 2011.
- Cost-effective rents are of great importance to smaller tech companies, often being tight of budget. Once an area becomes popular, many of the rents become over-inflated and local businesses become priced out in favour of larger multinational corporations.
- An office space that encourages creativity and innovation is also fundamental. Small yet spacious workspaces, with desks for individual research and lounge areas and meeting rooms for group discussions work well. Of course, anything that doesn’t resemble the cramped cubical nightmares of days gone by is always a bonus.
From stylish offices in Great Eastern Street, to the quirky and creative workspace on Rivington Street, Instant has a range of suitable office properties for rent in Silicon Roundabout. We cover the other “silicon” areas as well – with office space in Silicon Valley’s Techmart Centre to the stunning UB City commercial development in Bangalore.
Want to join the ranks of London’s new tech elite? Speak to an Instant Offices area expert now to find out what space are available to suit your needs.