Croydon’s emergence as the Silicon Valley of south London continued this week with the launch of a brand new “tech hub” in the town centre.

TMRW (Tomorrow), based in Davis House in High Street, aims to provide budding “entrepreneurs, thinkers, risk-takers, musicians and artists, investors and businesses” the opportunity to take advantage of “state of the art facilities and a rich ecosystem for the capital’s most progressive technology businesses”.

The 21,000 sq ft space officially opened on Thursday with the help of £2m backing from the Greater London Authority (GLA) and Croydon Council.

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Aside from confirming the tech industry’s continued love affair with capital letters and minimal vowels, TMRW “focused on bridging the gap between the most promising tech companies and industrial companies,” a spokesman said.

He added: “Leveraging an international network of CEOs with outstanding track records, tech investors and industrial giants keen to innovate, growing businesses will have the opportunity to meet proven tech leaders, work on solving real, practical business challenges suffered by industry giants today and leverage the network’s experience, contacts and opportunities.”

The facility will offer 320 desk spaces, a range of meeting and board rooms, and a 200-capacity “technology-enabled events space”.

Desks will be available to rent at £300 a month, a price the hub described as “incredibly low”.

Francois Mazoudier, TMRW’s chairman, said: “London has become Europe’s epicenter for fast growth tech businesse, [but] the downside of this boom has been the flash rise of rent prices in central London.

"With TMRW, our network of tech entrepreneurs, investors, industry partners and a vibrant local social scene, we’re establishing one of the UK’s best alternative clusters for tech entrepreneurs and start-ups.”

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Jonny Rose, founder of existing hub Croydon Tech City, said: “This workspace - which is the result of the Croydon Tech City organisation's collaboration with the council and the GLA - is a welcome addition to Croydon Tech City’s burgeoning tech ecosystem and a boon for the hundreds of entrepreneurs, developers and creatives who live and work in the borough.

“Croydon has seen a huge amount of growth in the TMT sector over the past few years and physical hubs like TMRW will play a key role in continuing the ecosystem’s success.”

A “revolving art gallery” of south London artists and a cafe with "locally sourced, in season, freshly made produce" are among the facilities on offer at TMRW, according to its press statement.

Mick Robins, chief executive and founder of video game company, said: “Our business is growing quickly, and so is our team, so we looked at the various options on offer in the East End and found out it is both strategically and financially more relevant for us to move to the new expanding tech cluster of Croydon instead.”

Croydon Council’s cabinet member for economy and jobs, Cllr Mark Watson said: “The launch of the TMRW tech hub will not only provide a world-class facility but also help create more cutting-edge tech companies, jobs and economic prosperity in Croydon.

"It is yet another shining light in Croydon’s regeneration programme and firmly positions the borough as London’s most significant new tech cluster.”