"David Cameron will today set out a vision of London's East End becoming a hi-tech rival to Silicon Valley on the US west coast, disclosing Google, Facebook and a host of cutting-edge firms have committed to invest in the Olympic Park.

"In a speech today, the prime minister will announce that he is introducing a new entrepreneurial visa as well as allowing more intra-company transfers - moves that will blow a hole in his plan for an immigration cap.

"Cameron will also disclose that he will look at a potentially far-reaching change to intellectual property rights after Google told him UK laws are far more restrictive than the US."

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