Architectural optical illusion building with peculiar angles M By Montcalm London Shoreditch Tech City hotel near Old Street in London, England, United Kingdom. East London Tech City, also known as Tech City and Silicon Roundabout, is the term for a technology cluster of high-tech companies located in Shoreditch and St Luke’s in East London. A cluster of web businesses initially developed around the Old Street Roundabout in 2008. The area had historically been relatively run down compared to the nearby City. The 2008–09 recession further suppressed rents through the closure of numerous firms, making it affordable to technology start-ups, while redundancies from financial services companies, such as investment banks, released a pool of experienced talent interested in entrepreneurship.