Tech Nation’s Post

Here in the UK, with a brand new session of Parliament about to begin following Labour's resounding victory, what could the future look like for the tech and creative sectors under Sir Keir Starmer’s Government? As a founder, here’s what I’m hoping to see… 💰 We've seen first-hand the impact of Innovate UK which has provided crucial funding and support for us and other tech businesses around the UK. It would be great to see Labour continuing to back this. 👩🏻💻 Founders need a seat at the decision-making table. The expansion of SEIS / EIS has been transformative for growth in the startup ecosystem, so sustaining and improving this scheme is crucial. 📈 We need clear, firm regulations in place to promote stability and growth. With unrest in France and the US Elections in November, now is the perfect time for the UK to position itself as a sought-after destination for investors. 🌎 Nurturing international talent is key. The success of @Tech Nation’s #GlobalTalent visa has been hugely beneficial for attracting top overseas candidates to the UK – creating opportunities for fulfilling careers, professional development, and access to UK markets and industry hubs. Overall, there’s plenty to be optimistic about. In fact, new Chancellor Rachel Reeves has already confirmed plans to set up a National Wealth Fund, with £7.3 billion dedicated to key areas like infrastructure and decarbonisation – could the creative and tech industries be next? I’d love to hear your thoughts on how we, as an industry, can take full advantage of this moment for our future. Let me know what you think in the comments 💭 #labour #labourgovernment #ukelection #election2024 #conservatives #tech #arts #playerplus

A New Day for UK Tech Under Labour! Last week marked a historic moment as the British Labour Party secured its first government in over a decade. With this new dawn, significant changes are anticipated in the realm of tech policy. Peter Kyle, continuing his role as Tech Secretary, promises a proactive approach, positioning the Department for Science, Innovation and Technology (DSIT) at the core of these advancements. This renewed focus has already attracted positive sentiments from multinationals, viewing the UK as a safer investment destination. Labour's ambitious plans include the introduction of an artificial intelligence bill, aiming to regulate the most advanced forms of technology. The AI Safety Institute, initiated under former Prime Minister Rishi Sunak, is set to receive enhanced support and investment to safeguard AI advancements. Additionally, there's a strong push from the tech sector to revive the data protection reform bill, with new ministers like Maggie Jones and Chris Bryant bringing fresh perspectives. Labour's tech vision doesn't stop there. Promises include establishing a Regulatory Innovation Office to streamline tech-regulator interactions, initiating planning reforms, and boosting R&D funding. These initiatives, along with Labour's commitment to creating a 'digital centre', underscore a transformative era for UK tech. Stay tuned, engage, and share your thoughts on these exciting developments! #UKTech #LabourGovernment #Innovation

Peter Kyle, Labour's Shadow Secretary of State for Science, Innovation and Technology, has just been on stage at London Tech Week Day 3- the only MP to grace the stage during the election. He outlined Labour's ambition for tech should they come into power announcing new policies to “supercharge” the UK tech sector. Key highlights are: 📊 A Labour government would make it easier for Big Tech groups to build critical infrastructure such as data centres in Britain as part of a push to boost economic growth 💷 Reform of the procurement process to make it easier for UK start-ups to bid for state contracts. 🔬 A “national data library” (with ministerial responsibility) giving scientists’ and academics’ access to good quality public sector data safely and securely, in pursuit of innovations that improve people's lives. 📋 A transformation of how citizens interact with the British state so it becomes more personalised, and less "paper shuffling", more online and less "on-hold" and less time consuming 💻 DSIT will become the digital centre for government - a resource for other govts departments and responsible for delivering common platforms. It will also become responsible for boosting adoption of innovation including AI across the economy. The Financial Times covered some of the key policies here: https://lnkd.in/eGx7Xvcn #LondonTechWeek #LTW2024 #Revere #Tech

When Labour last won a general election in May 2005, the UK's tech landscape was unrecognisable. Digital bank Zopa stood alone among today's 40+ unicorns, and 'Silicon Roundabout' was years from conception. Fast forward to 4 July 2024, and Labour finds itself governing a transformed tech ecosystem. In 2010, UK startups raised £1.7 billion; last year, that figure hit £15.4 billion. As Labour takes the reins, the tech community is cautiously optimistic. Funding remains a top priority. The sector hopes Labour will push through the Mansion House reforms, unlocking pension fund capital for startups. Catherine Lenson of Phoenix Court emphasised: "Closing this scaleup gap isn't just about catching up with Silicon Valley; it's about harnessing a massive economic opportunity." Access to international talent is crucial. Sean Kane of F6S stressed, "It's vital that the government makes visas for tech talent more accessible." Climate tech is expected to receive a boost. Simon Phelan of Hometree found Labour's green policies "very encouraging." However, some areas, particularly AI policy, require clarity. Dr Roeland Decorte called for a balanced approach, urging focus on startups building a sustainable AI economy. As Labour settles in, the tech sector remains hopeful but pragmatic. The coming months will be crucial as campaign promises translate into policies. The tech community stands ready to collaborate and hold the government accountable for fostering a vibrant, innovative UK tech sector. (Link in the comments) 📸: Keir Starmer via Flickr

Why Now is the Time for HealthTech Founders to Engage with the New UK Government https://lnkd.in/dnPRU2iK > Engaging with government and policy makers is important – for ensuring you understand current or impending regulation, for getting the backing of important policy-shapers as you disrupt markets, and crucially, helping to create the soft power that can help your company’s favourability and growth. > Take a health scaleup. The Labour manifesto pledged to streamline public procurement, providing a faster route to get new products into the NHS. Incoming Secretary of State for Health and Social Care, Wes Streeting, has expressed a strong belief in the necessity of public and private collaboration for increasing efficiency and solving the NHS crisis. Engaging with Streeting’s team now could help your health tech commercially, creating a clearer path for growth. To find out more about how Founders Comms can support your startup or scaleup, get in touch at hello@founderscomms.co or check out the website here https://lnkd.in/dkgGsgNq Founders Forum Group https://lnkd.in/dnPRU2iK

£1.1bn to upskill the UK for future tech roles is too little too late. 📈 In ordinary circumstances, a figure of £1.1bn – the headline-capturing amount the government announced last week to train “over 4,000” UK students in future technologies – wouldn’t be lamentable. Yet, considering total public spending on education was £116bn in 2022-23, according to the Institute for Fiscal Studies – down 8% from the 2010-11 figure – it smacks of a weak attempt to win some media coverage and votes in the looming general election. #upskilling #generaelection #futuretechnologies #government #futuretech #UKtech

With just one more sleep until the general election, now is a good time to share some of UKTN's recent reporting to get you up to speed on what tomorrow might mean for the UK tech sector. Who are the key Labour and Tory tech figures that might be pulling the policy levers? Oscar Hornstein has put together a handy guide: https://lnkd.in/eE6363CC Fixing tech visas has become an election focal point, as shown by an open letter organised by the Startup Coalition: https://lnkd.in/eKpSjU7g Abbianca Nassar reports on calls for the next government to put climate tech at the heart of its growth agenda: https://lnkd.in/e3hmHfi8 What should the next government do to maintain the UK tech sector's leading position? Jeff Lynn, chairman of Seedrs and the Startup Coalition, shares his thoughts in this op-ed: https://lnkd.in/eSWuK_rk We've also got a rundown of key manifesto tech policies: Labour: https://lnkd.in/eHuzpPQn Conservative: https://lnkd.in/esyRusV9 Liberal Democrats: https://lnkd.in/eEsJXgCF You can read all of UKTN's general election news, analysis and opinions here: https://lnkd.in/eYiM2PS7 #GeneralElection #UKtech #startups #policy #VC

General election: Key Labour manifesto tech policies. 💡 Support for new data centres, long-term R&D funding and reformed, centralised regulators for new technologies are among the key tech policy commitments from the Labour Party’s 2024 manifesto. The Labour Party published its 2024 manifesto ahead of the general election on 4 July. Here are the key tech policies from the Labour manifesto that startups, investors and industry stakeholders should know about. ➡️ https://lnkd.in/ecvqduNN 🔗 #government #generalelection #policy #labour #ukgovernment #techpolicy #investment #startups #UKtech

The rate of new UK tech companies is slowing. Great to see Jess Jones profile our RSM UK research in City AM today. This is the first time we have seen a stagnation of new Tech incorporations. It is possible political uncertainty, high costs of borrowing and lower levels of investment has blunted growth in UK Tech. Department for Science, Innovation and Technology spend in Tech was cut last week, reported by Zoe Kleinman / BBC News. Whilst on one hand the new government is grappling with a £22bn budget shortfall, on the other, it can’t afford to take a strong tech sector, that contributes around £150bn a year to the UK economy for granted. There is an opportunity for a renewed focus on the bigger picture from government, supporting the sector to develop technology which enables the UK to compete on the global stage. There are many levers to consider including direct funding for deep-Tech innovation, a review of tax incentives and innovations reliefs, streamlining the process for skilled immigration and looking at how education and training can address Tech skills gaps in the workforce. David Blacher | Mandy Girder | Richard Heap | Kirsty Fraser #rsminsights #uktech #tech

Three-quarters of tech leaders positive about Labour, survey finds. 💡 A general election is firmly on the cards this year and both Labour and the Conservative Party have been fighting to win the approval of the business community. New research from the tech funding consultancy group Ayming UK suggests Labour’s courting of business has been paying off. #survey #government #innovation #labour #business #UKtech