Google has shown its commitment to East London's Tech City by signing a long-term lease for a seven story building where it plans to provide a launchpad for London-based start-ups.
Often referred to as 'silicon roundabout' London's Tech City is being billed as the UK's hub for tech and digital start-ups.
Google has long insisted that it is supportive of the scheme, and it has now backed that up with a financial commitment which will include a full refurbishment of the building ahead of a 2012 launch.
"Google plans to open up the space to other organisations that support technology entrepreneurs, working together to provide a launchpad for new London-based start-ups and developers. This is the first initiative of its kind for Google anywhere in the world," stated Google.
The building, at 4-5 Bonhill Street, London will also play host to a Google-backed speaker series, hackathons, training workshops and product demonstrations for engineers.
David Singleton, Engineering Director, Google UK said: "We announced our involvement in the Tech City project last year, and we've been working hard to make this vision a reality.
"Finding a suitable building is the first major step, and we hope to announce more details about the organisations we'll work with and how they will use the space in the coming months.
"East London is already home to hundreds of innovative British start-ups, and has huge potential for economic growth and new jobs over the coming years."
Eric Van Der Kleij, CEO of the Tech City Investment Organisation, said: "Google is a terrific example of a major technology business that understands the importance of nurturing as well as benefiting from the communities where they operate.
"This investment will pay dividends for them as well as contributing to the long-term success of the Tech City, and we are delighted to welcome them to the area."
Google's lease on the building will run until at least 2022, according to the search giant.