MP Ed Vaizey mentions Tech City in his speech ‘The future of Digital entertainment’

Ed Vaizey (Intellect Conference, London) – July 5, 2011

Thank you to Intellect for inviting me back to speak.

I came to this conference last year, as a fresh faced Minister with an ambition for digital radio.   That ambition remains, but today I want to share with you the Government’s ambition across the wider digital space as well.

The UK has one of the most dynamic and successful media and communications sectors in the world.   According to a report from the Boston Consulting Group, the UK is now the world leader in e-commerce, with an internet economy worth £100 billion a year.  The availability of enhanced 3G for mobile data transfer is at almost 90 per cent of the total population.  Our content sectors continue to thrive with international sales of TV content exports growing to over £1.3billion in 2009.  Indeed the broadcast content sector invested around £250m on UK commissions in 2009.

We have built on this success with initiatives such as East London Tech City that is helping to support the creation of a world leading technology centre in East London. Hailed as the “Digital Capital of Europe” Tech City has become a tremendous attraction to ambitious young technology entrepreneurs making it increasingly the place to be for the world’s next generation of digital entrepreneurs. The success here has attracted other like-minded high-tech entrepreneurs and the area is booming.

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