PM announces £15m for start-ups

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David Cameron has announced an extra £15 million in funding to help start-up businesses.

Speaking at the three year anniversary of Tech City - London's equivalent of Silicon Valley - the Prime Minister said the digital business hub was an "enormous success story that we can be really really proud of".

The cash injection into the "absolutely brilliant" Enterprise Investment Scheme for start-ups will come from the Technology Strategy Board.

Mr Cameron said: "I think this is a great success story for Britain, a great success story for Europe and we really want to help it achieve all of its potential."

He also welcomed an announcement by UCL (University College London) that they are to open a campus on the Olympic site in east London.

The Prime Minister made the speech at Idea London in Hackney, which was set up three years ago by technology giant Cisco, publisher DC Thomson and UCL to help start-up businesses, digital and new media companies.

He also unveiled a new visa scheme to encourage technology entrepreneurs to come to the UK.

"We're going to make sure that UKBA (UK Border Agency) actually has an office here in Tech City to help you with problems and difficulties that you might have," he said.

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