Why this won't work: You can't build a startup cluster to "renew an area".
It doesn't work like that. Old Street works because the location is decent (safe and well connected), it's cheap and the other companies there. The area has to attract people who want to work there and you can't artificially build that.
The location they're proposing put this new tech area goes through the area known as "murder mile". Yes it's cheap, but it's high crime rate means startups aren't going to locate there. It would be like trying to build a startup cluster in the Bronx because it's near the NY startup community.
One thing that has amazed me about London is how quickly it changes and develops. An area can go from being being run down to 'gentrified' within a decade. It will eventually happen in Clapton as well.
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(copied from the dup'd thread)
Why this won't work: You can't build a startup cluster to "renew an area".
It doesn't work like that. Old Street works because the location is decent (safe and well connected), it's cheap and the other companies there. The area has to attract people who want to work there and you can't artificially build that.
The location they're proposing put this new tech area goes through the area known as "murder mile". Yes it's cheap, but it's high crime rate means startups aren't going to locate there. It would be like trying to build a startup cluster in the Bronx because it's near the NY startup community.
Funny you should mention the Bronx! NYC is doing just that. Heh. Article posted today: http://news.ycombinator.com/item?id=1866360
One thing that has amazed me about London is how quickly it changes and develops. An area can go from being being run down to 'gentrified' within a decade. It will eventually happen in Clapton as well.