Google is heading east in the name of innovation. No, not to Asia - but to Shoreditch and more specifically, Old Street's Silicon Roundabout.

The search giant has reportedly taken a lease on a seven story building near London's tech hub, with the aim of supporting tech entrepreneurs and start-ups.

Google said that the building will host "a range of activities, such as speaker series, hackathons, training workshops and product demonstrations" as well as providing workspace for new businesses.

The site, which will open next year, adds weight to PM David Cameron's aim to get the location more global recognition and to eventually rival California's Silicon Valley.

"Finding a suitable building is the first major step, and we hope to announce more details about the organisations we'll work with and how they will use the space in the coming months," said David Singleton, Google UK's engineering director.

"East London is already home to hundreds of innovative British start-ups, and has huge potential for economic growth and new jobs over the coming years."

The business aim for Google is obviously to take a look at the start-ups in the area and gobble them all up before they get a chance to take on its global dominance. An all you can eat acquisition buffet if you will.

Too cynical? Perhaps - but we don't think the Big G's in it for charity.