London’s Silicon Valley

With help from Facebook and Google, David Cameron wants east London to take on Silicon Valley. But his top-down approach misses the point, says Joe White, CEO of London-based web design service Moonfruit:

"If we need more grass roots, then large tech corporate sponsors are not the answer. Supporting local entrepreneurs who can inspire and support each other is the answer. Create more seed startups, allow more failures, start again then eventually you’ll have enough experienced, inspirational entrepreneurs to drive the startup community, and even start to drive the investment community."

110206 Tech startup stars: Jemima Kiss: Observer