Number 10 is delighted to have persuaded such a high profile figure to join the Government initiative. Tech City was officially launched in 2011 by UK Trade and Investment after a speech in 2010 by the Prime Minister.
"Getting Joanna on board is a massive coup," said Rohan Silva, senior policy adviser to the Prime Minister.
"The fact that we've been able to recruit one of Europe's most highly-respected and successful business leaders demonstrates the success of Tech City.
"The incredible growth of the cluster is no accident – it's been turbo-charged by ambitious policy, such as our targeted tax breaks for venture capital, new Entrepreneur Visas and huge investment in superfast broadband."
The move will be a blow for Facebook which faced criticism earlier this month for the small amount of tax it paid in the UK. Ms Shields, who is close to Facebook's chief operating officer, Sheryl Sandberg, was described by digital magazine, Wired, as "the most influential person in European technology".
She said Facebook was in a strong position and that it would be difficult to leave. Ms Shields also revealed that she had received a number of negative emails over the tax issue which were "not nice". "I understand why people are frustrated," she said. "The environment is changing, future companies will take a different decision I hope.
"Remember the whole meme about personal taxes and all the celebrities that were in Jersey? That is not right for them either."
Ms Shields said business that started in the UK and grew here would be more likely to stay in Britain.
"We need to get it right for start-ups so that they incorporate here, they build their businesses here from the start," she said.
"We can't afford for any of these companies to locate elsewhere, we don't want them to go public anywhere else but here. That is what we should focus on.
"The majority of the people there [in Tech City] were educated by funds from the British Government, they were brought up here, society looked after them, their healthcare.
"Society invests in people, we cannot let that investment, those people that are born and bred here and study here, we cannot let that go."
She said that changing the listing rules in London – which the Government wants to do – would help keep technology companies in the UK.
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