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London’s Tech City project got a big boost on Thursday when Google officially opened Campus, its first hub offering start-up technology companies desk space and mentoring.
Opened to great fanfare by George Osborne, chancellor, the seven-storey building will house 100 start-up companies and organisations such as Seedcamp, the technology incubator, and TechHub, the original provider of co-working space in the Shoreditch area.
Venture capital investors appear to be growing increasingly wary of European companies. In 2011, they put just E4.4bn into 1,012 start-ups in the region, a 14 per cent drop from the previous year, according to Dow Jones VentureSource.