Virgin Media Business to “transform” internet in Tech City

As London continues to consolidate its position as a global tech powerhouse, it seems bizarre that connectivity in Tech City is still being criticised as slow and expensive.

Step in Virgin Media Business – which has today announced that it will look to fulfill the rising demand for faster, cheaper and more reliable internet in East London’s thriving tech hotspot.

At least 2,000 businesses are expected to benefit from the project immediately, with development in the coming months hoping to a further 6,000.

Virgin says the initiative will offer dedicated connections at half the cost but six times the speed, by installing managed internet access into buildings with shared occupancy.

Each of the qualifying businesses has the opportunity to apply for subsidy from the government’s SuperConnected Cities scheme, which has recently been extended to March 2016.

The project will be available to premises that house two or more businesses with one to 249 employees initially until March 31 2015.

Peter Kelly, Virgin Media Business managing director, said: “Small businesses are the powerhouse of our economy yet poor connectivity exacerbates the challenges they face. We are transforming the prospects of thousands of companies by offering them faster, cheaper, more reliable broadband.

“These businesses will be able to work quicker, smarter and seize greater opportunities to grow with our better internet connections. Virgin Media Business is proud to be boosting the tech in Tech City.”

Deputy mayor of London for business and enterprise, Kit Malthouse, continued:

“Fast broadband connections are vitally important for small businesses – for many it is just as crucial as gas, electricity and water. Initiatives such as this will help our thriving tech community to stay ahead of the game and continue to play a key role in London’s economic success.”