A vast amount of technology start-ups are launching in the capital as thousands of entrepreneurs rush to locate their businesses near London ‘silicon roundabout’. Many of them are from the US. Silicon roundabout, also known as tech city, based around Old Street, is now so high that it is attracting foreign talent as well as home grown firm.

Firms from Silicon Valley are being lured by improving economic climate and by London time zone, which makes it a good place for small HQ launches in Europe. Some say they prefer the capital more collaborative environment as compared to the competitive spirit of California.

Desk space around Old Street is in such demand, start ups are spreading far beyond Silicon Roundabout. Google new move to Kings Cross has also extended the reach of the sector.

A members club and company that offers office space call central working said business was booming. Its new site in Whitechapel is already nearly full ahead of its opening next week.

Founder and Chief Executive James Layfield said:

"The economy is picking up and everyone’s coming to London we're a jump-off point for the rest of Europe we’ve also seen a lot of companies in Dubai."

Recent U.S. start-ups in the capital include Silicon Valley’s helper service task rabbit and tech stars, a mentor-driven see-stage investment programme.

Patty Tredway moved to London from Silicon Valley six months ago because her company Lookout was launching there.

She said:

“There’s a great energy about the London start-up scene. Because the scene is younger sand still [roving itself on the world stage, there’s more enthusiasm.
“Entrepreneurs here are very close-knit. They want to support each other, not just to make their businesses better but to prove the viability of London as a tech hub.”

Massimiliano del Vita, co-founder of food search engine Klappo.com, is Italian and has worked in Sweden and shanghai but picked Old Street for his start-up. He said:

“London was the best choice. Beautiful, convenient, international, culturally thriving.”

Alex Rabarts, co-founder of shared office operation Techspace said:

We have seen an explosion in demand at Silicon Roundabout. We have announced plans to increase capacity to 10,000 sq ft, making us one of the UK’s largest tech co working spaces.”

Government policies have been developed in response to the needs developed in response to the needs of start-ups and entrepreneurs, creating among the best conditions for businesses builders in the world.