Europe has no real equivalent to the big hothouse that is Silicon Valley, but it does have lots of tech clusters and networks. As recent research from the startup Seedcamp startup programme has shown, clusters of innovation are spread far and wide across Europe. One place everyone agrees is a key cluster is London. It now hosts offices belonging to all the top-tier pan-European VCs, several new Seed funds, has an active Angel investor market and hosts many major tech events. However, largely because of its cost – everything is still expensive here – London remains hard for European startups to access and get into, even in a recession. And although European and US entrepreneurs often need to take meetings and work in London, who wants to sign a huge office lease?

TechHub (@TechHub on Twitter) is new project put together by long-time London tech scene person Elizabeth Varley which will address just this issue. It will be a new, physical space for tech people, providing the things they really like: Super-fast Wifi, power for laptops, coffee and flexible, plentiful desk space. What’s really game-changing though is that – as I understand it – it will very, very affordable, which is exactly the problem that needs to be solved in London if the rest of Europe is to benefit.