At the TechUK’s Tech Policy conference in London, science and technology minister Peter Kyle laid out plans to drive innovation and strengthen the economy. The government is focusing on technology as a key player in its industrial strategy, dubbed Invest 2035.
Kyle pointed out that the UK economy has had a rough few years, struggling with productivity and investment compared to other countries. He emphasized that there’s been a longstanding imbalance of power that hinders progress. “We need to move from stagnation to innovation, from old ideas to new opportunities,” he said, suggesting that the future of Britain relies on courageous thinkers pushing boundaries.
Key areas like AI, semiconductors, cybersecurity, and quantum technologies show promise for economic growth. However, the government recognizes that these sectors need direct support to really take off. The new industrial strategy greenpaper highlights the importance of a focused approach on growth-driving sectors, urging the government to provide temporary backing to get industries moving, especially those that can compete globally.
Kyle stressed the need for a diverse tech strategy, suggesting that support should not only go to well-established companies but also to smaller, disruptive startups. The goal? To unleash funding for innovative ideas and businesses so they can grow. By stepping in directly, the government aims to create a more competitive business landscape, especially in areas that are tough for newcomers to break into.
One of the standout initiatives is the Quantum Missions Pilot, designed to fast-track quantum computing and networking. Kyle announced the winners of Innovate UK’s Quantum Missions Pilot, who will share £12 million to push these technologies forward.
Additionally, the government plans to invest £23 million in edge telecom research and deployment to enhance mobile coverage for everyone across Britain.
In another major move, Kyle revealed an overhaul of how AI projects and digital initiatives are funded in the public sector, aiming to streamline processes and minimize waste in taxpayer funding.
Lastly, he appointed David Willetts, a former science minister, as the first chair of the Regulatory Innovation Office (RIO) to help ensure the UK’s regulatory framework keeps up with rapid innovations.