London — Google is maneuvering its weight behind the multimillion-pound “technology community centre” in the surrounding of Tech City, East London’s fast-growing hub for Internet companies, by signing a lease for a seven-floor building that will serve as a launch-pad for new start-ups and developers, the news comes on the heels of Twitter’s yesterday’s announcement to open a European HQ in Dublin.
The search engine titan Google Inc. plans to lease a seven-story building that will serve as a launch-pad for developers and startups near London’s “Silicon Roundabout,” promoting U.K. Prime Minister David Cameron’s plans to create a global technology hub in the east of the British capital.
The search engine giant has long emphasized that it is supportive of the scheme, and it has now supported that up with a financial commitment which will include a full renovation of the building ahead of a 2012 launch.
“Google intends to transform the space for other organizations that support technology entrepreneurs, working together to provide a launchpad for new London-based start-ups and developers. This is the first initiative of its kind for Google anywhere in the world,” stated Google.
Google — involved in Tech City…
Google will grab more than 25,000 square feet (2,323 square meters) of office space near Old Street until at least 2022. The company will pay about 5 million pounds ($7.8 million) over the period 10 years in rent, which exclude costs for refurbishment, according to an online brochure for the site.
The center, scheduled to open in 2012, will house advisers from Google and other organizations that support technology entrepreneurs, the U.S. company said on Wednesday.
It will be located close to Old Street roundabout, dubbed “Silicon Roundabout,” in an area of London that has already attracted hundreds of new Internet start-ups. Moreover, the building, at 4-5 Bonhill Street, London will also play host to a Google-backed speaker series, hackathons, training workshops and product demonstrations for engineers.
David Singleton, Engineering Director, Google UK said: “We announced our involvement in the Tech City project last year, and we have been working hard to make this vision a reality.” “Finding a proper building is the first major step, and we hope to announce more details about the organizations we will work with and how they will use the space in the coming months.”
“East London is already home to hundreds of innovative British start-ups, and has huge potential for economic growth and new jobs over the coming years.”
Google, the owner of the world’s most popular search engine, will cooperate alongside technology and media companies as the U.K. government is encouraging ventures to move to “Tech City,” a four-mile-long zone stretching from Shoreditch to Stratford, the neighborhood at the heart of the 2012 Olympic Games, and transform London into a technology center to rival Silicon Valley and make the city less dependent on financial services. The Mountain View, California-based company will retain its existing offices in central London.
Eric Van Der Kleij, CEO of the Tech City Investment Organization, said: “Google is a terrific example of a major technology business that understands the importance of nurturing as well as benefiting from the communities where they operate.”
“This investment will pay dividends for them as well as contributing to the long-term success of the Tech City, and we are delighted to welcome them to the area.”
Google’s lease on the building will run until at least 2022, according to the search giant.