The aim is to allow THECUBE to provide flexible service packages to IT start-up companies and to explore a range of commercial models and package the service for customers requiring high speed broadband and dedicated internet connections without the need for long-term contracts.

Communications Minister Ed Vaizey said: "Last year the Prime Minister set out our ambition for London's East End to become a world-leading technology city to rival Silicon Valley. Programmes like Virgin Media Business' will help turn this vision into reality.

Mark Heraghty, Managing Director at Virgin Media Business said: "To move the UK economy forward, organisations need to understand that for customers, commercial innovation is just as important as product innovation. Splitting the 1Gb/s service we are provisioning to THECUBE, into numerous superfast services they can resell to their resident start-ups makes business sense for all parties.