November 5th, 2010
03:05 PM GMT
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London, England (CNN) - British Prime Minister David Cameron has spelled out an ambitious plan to support fledging tech companies in order to create a tech cluster called The East London Tech City. He was speaking before a very enthusiastic crowd of young entrepreneurs and older and wiser venture capitalists and bankers.

It seemed to me that the government is serious about making changes to the law and investing money in this venture. But even the PM freely admitted that Britain can't create a Silicon Valley at the moment.

From copyright laws to patent protection to the lack of risk taking in the culture, the country isn't a place where brilliant minds can take ideas to market, fail and then take another idea to market and fail again and then really take off.

As one young entrepreneur said to me, anyone who succeeds here is considered lucky or just privileged or in the end, is resented.

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