Trying to clone Silicon Valley has been a cornerstone of this coalition’s business policy. Rohan Silva, until recently the PM's policy guru, spent several years in government and opposition creating the ‘Silicon Roundabout', an attempt to provide a new leg for the UK’s economy in East London.
Depending on who you believe, the East London Tech City project has either been a roaring success or a waste of time. Despite all the encouragement from the government, the main challenge is recreating the enticement of Silicon Valley in Shoreditch — something that may be impossible. Brent Hurley, a founder of YouTube, spoke on the Today programme this morning about the ethos of the Valley:
‘For me, I think Silicon Valley is more a state of mind, it’s a mentality, among entrepreneurs to look at the world and if you see something they want to change, a pain point, then try to develop a solution or a product to address that. Take your idea and bring it to market. ‘