Just north of London's centuries-old financial district, a
new generation of entrepreneurs are founding technology companies that offer a
glimmer of optimism for an otherwise moribund U.K. economy. The heart of this
emerging tech hub is the Old Street
Roundabout, a gritty traffic circle. So many startups are clustered in the
offices and converted warehouses to the east, west and north -- at least 1,300
at last count -- that the whole area has been dubbed, in mock seriousness, Silicon
Roundabout. The British government has slated the Old Street Roundabout for a
major urban rehabilitation project, including the construction of a £50 million
signature building in the middle of the roundabout that will host classrooms,
auditoriums, shared offices and 3-D printing labs.
For the full story,
from the June 2013 issue of Bloomberg Markets, click here.