Both Vodafone and Barclays have announced investment in East London’s Tech City.

Vodafone will invest in a new technology center in the area providing capital in order to create links to upcoming start-ups. Barclays are set to create an entrepreneurial centre in proximity to the Google Campus.

Chancellor George Osborne highlighted the success of investment in an area with Barclays’ partnership with Central Working, expected to provide support for 22,000 businesses over five years.

Trade and Investment Minister Lord Green, said of the new investments: “This announcement is an excellent reflection of Tech City’s success as a thriving hub of innovative technology companies, combined with ready access to Europe’s largest venture capital community”.