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Why East London Can Never Be a Silicon Valley
David Cameron’s attempt to emulate silicon valley in London’s Olympic Park will be a disaster, says Dominic Monkhouse, MD of Peer1 Hosting.
Unlike California, London’s East End is not a magnet for creatives wanting to live the good life, said Monkhouse. “The thing about Los Angeles is it’s a nice place to live. I don’t think people will say that about a bunch of bleak industrial estates,” he said.
If the climate wasn’t enough of an advantage, California also has one of the world’s greatest universities on its doorstep, Stanford. You can’t become a hotbed of technical innovation without a great university as your foundation, said Monkhouse.
Silicon Fen has Cambridge University. Silicon Glen is fed by Glasgow and Edinburgh universities. “What has east London got? East London polytechnic? I don’t think you’re to attract the top talent there. Even if you did they’re not going to meet anyone inspiring and they won’t want to stay in the area afterwards,” said Monkhouse.
“It’s a total waste of money,” he concluded.