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Google is to provide office space and assistance to new tech
Google is to provide office space and assistance to new technology companies in London's "Silicon Roundabout".
The company has leased a seven-storey building in the Old Street area, where many start-up firms are based.
Prime Minister David Cameron has signalled his desire to turn the area into "one of the world's great technology centres".
About 300 companies are now working in the area, according to Tech City, the body set up to promote the initiative.
Google said that the building, in Bonhill Street, would host "a range of activities, such as speaker series, hackathons, training workshops and product demonstrations" in addition to providing workspace for new companies.
The California-based company stressed that it was not moving its UK headquarters - currently in central London - to the area.
Many millionaires
Eric Van Der Kleij, chief executive of the Tech City Investment Organisation, said that partnering established technology companies with fresh talent could be beneficial to both parties.
Continue reading the main story
Analysis
Rory Cellan-Jones
Technology correspondent
Google's Innovation Hub may be a "creative space" - but there's no sign that its researchers will be spending any time there creating anything new.
To be fair, the company's press release stresses that is just the first stage in making its commitment to Tech City a reality.
So, yes, it's a good day for east London's technology ambitions.
But if the vision outlined by the prime minister is to be realised, then the area will need to see companies like Google, Intel and Cisco fill the lofts and warehouses around the Silicon Roundabout with engineers as well as events organisers.
Read more from Rory
Google's good news for Tech City
"What [companies like Google] do by having a firm footing in the community is provide a channel for innovation, to partner with them and potentially even sell to them," he told BBC News.
"It accelerates the process of the entrepreneur doing a tech startup, selling for a lot of money, creating a lot of millionaires within their organisation and creating recyclable wealth - then going out to do more innovation."
Large corporations have been lending support to young entrepreneurs in the area for some time.
The nearby Tech Hub project, which offers accommodation and business support, is supported by Google, media group Pearson and software firm BlueVia.
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