Old Street’s tired and run down “Silicon Roundabout,” which has paradoxically become the symbol for booming Tech City and its booming digital culture - could get a makeover if a group of designers get their way.

Architects 00:/ have teamed up with property consultants Space Station, both based around Old Street, to draw up plans to transform the concrete underpass into Startup City - a large public events space and hub for all things tech and start up.

They envisage a space encapsulating a support hub for start-ups, along with temporary and long-term workspaces, and a public space where tech expos, product launches, live events, public talks, and cultural pop-ups could be held.

They hope it could become a global platform to show Britain is leading the way in technology.

Designer from 00:/ Alastair Parvin said the proposals were gathering momentum: “The whole genesis behind this is there’s this incredible boom happening in the tech industry but it’s invisible - this is about building an icon which will articulate that and make it a part of city life.

“We’ve got a few investors interested but our real interest is making sure its done in such a way it will be a community interest venture, it’s not about making a huge amount of profit,” he added.

“There are issues of land ownership, and for TfL it’s such an important transport exchange - but anything has to be a really big improvement.

They are in conversation with TfL and Hackney and Islington councils to flag up support for the project.

“There are a lot of different hpyerboles, but the support for this is incredible, as time goes on it’s becoming more plausible, we’re very optimistic about it and very surprised.”