By Claire West

According to news coming out of the Prime Minister’s office, David Cameron is to announce plans to create a high tech hub in the East End of London.

"Our ambition is to bring together the creativity and energy of Shoreditch and the incredible possibilities of the Olympic Park to help make East London one of the world's great technology centres." David Cameron is expected to say to a group of business owners and entrepreneurs later today.

Facebook, Google and Intel are all supporting the initiative which plans to make the Olympic Stadium in East London into a rival to Silicon Valley in California.

Mr Cameron will also propose changes to UK intellectual property laws and will announce a new "entrepreneur visa".

"These entrepreneur visas will mean that if you have a great business idea and you receive serious investment from a leading investor, you are welcome to set up your business in our country," Mr Cameron will say.

For the last couple of year the area around Old Street roundabout has been known as 'Silicon Roundabout' due to the growing cluster of 'tech' firms in the area and the Government plans can only add to this.