By Claire West

Prime Minister David Cameron’s ‘Silicon dreams’ have stemmed from plans to transform London's East End into one of the world's greatest technology centres.

In a recent statement he said ”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”.

The Government will pledge £200m of equity finance and £200m for technology and innovation centres in order to create a new ‘Tech City’ based near t he Old Street roundabout and the surrounding area which is part of a larger campaign to encourage foreign investment, boost the fragile economy and create jobs in one of London’s less privileged areas.

'Tech City' is not only great news for leaders in the outsourcing industry but also for UK business in general, with ample room for opportunity and potential for stimulation of the already fragile economy.

Microsoft BPOS and SharePoint specialists, Content and Code, based in Old Street on what has now been referred to as the 'Silicon Roundabout' have experienced record levels of business growth in the last twelve months ranking highly in both the Deloitte Fast 50 and the Times Tech Track 100.

The company was founded in the height of the last recession and has gone from strength to strength ever since. Its CEO, Tim Wallis, is marked as the Silicon Roundabout’s rising star for 2011 with evidence that the cloud computing market is set to take off next year.

Content and Code are one of the oldest companies in the area and have had a positive reaction to Cameron’s latest ambitions to create a British Silicon Valley with plans to transform the vibe and culture of London’s East End into a hub for innovation in technology.

Tim Wallis, CEO and joint owner of Content and Code says, “Attracting more IT companies to this area will help to stimulate growth in the private sector at such a critical time for the UK economy. With more innovative technological organisations in the area, companies will benefit from an environment where ideas can be exchanged freely, recruitment can be fruitful, schemes and strategies more accessible and a new and exciting culture can be allowed to flourish. If the Prime Minister’s ‘Silicon Dreams’ are realised then this could create new jobs, drive investment and impact beneficially on the economy in general”