Islington Council has launched an open call for ideas to help with the redesign of Old Street Roundabout, encouraging architects, artists and tech geniuses to come up with concepts for the area.
The call comes as Transport for London (TfL) confirmed that work to transform the area will begin late in 2018.
Under plans which have already been through a public consultation, the so-called Silicon Roundabout may have to change its name, as the roundabout will be removed.
The north-western arm will be pedestrianised while new segregated cycle lanes will be introduced. The council has called for ideas to create an "iconic gateway" into the revamped area, promising to fund the successful submission.
"The transformation of Old Street will hugely improve the area for pedestrians, public transport users, cyclists and people who live and work nearby," said councillor Claudia Webbe from Islington Council.
"Old Street is an iconic location known around the world, and a powerful symbol of what is also known as Tech City. This is a unique opportunity for an exciting, bold, iconic gateway – we are looking for innovative and inspiring ideas, which tap into the pioneering spirit of creativity for which Old Street is so famous."