Government plans for Olympic Park to be the British Silicon Valley
News Release from:
Powa Technologies Ltd
23 October 2012
The Prime Minister has announced the importance of establishing a definitive technology centre in London. David Cameron emphasised the value in developing a space in which British aspiring tech companies can expand and flourish. This comes at a time in which the nation is looking to emulate the advancements made by the US with its world-renowned 'Silicon Valley', in order to compete in the global race for economic power.
This new technology centre at the Olympic Park in Stratford is expected to inspire and promote a culture of innovation that would accumulate the necessary investment to enable Britain to become a compelling force in the sector worldwide. With predictions for this week’s GDP figures expected to point towards a departure from recession and into growth, experts from the sector expect the announcement to be a positive move in generating further growth in the UK.
Dan Wagner, CEO and chairman of mPowa, an innovative mobile payments service said, “With the Olympic motto ‘inspire a generation’ still ringing in our ears, the Olympic park in Stratford would serve as the ideal location to kick-start a tech revolution in Britain. This is the sort of innovation that could turn the tide on our nation’s debt. In the past there has been a chronic lack of investment in British tech start-ups. And considering that Britain is equipped with some of the brightest minds in technology, there really is no excuse for a lack of innovation.
“Britain must strive to compete with the US and the other emerging markets by means of matching their technological advances or face a struggle to return to a period of measurable growth. Israel, through its state backed venture capital program Yozma, attracts more venture capital per capita than France and Germany combined. When the government realises the importance of a thriving technology industry, it is an important step to creating growth in genuine growth areas. With this in mind, Britain has reason to be optimistic about the future.”