Are you wondering what the upcoming general election means for the UK startup sector? We've been reviewing each party's manifesto as they are released and have put together a snapshot of what they promise for startups and entrepreneurs. Here is what the Conservatives, Labour, and Liberal Democrats say they will deliver for the innovation ecosystem: The Conservative Party plans to modernize the NHS with MedTech, boost R&D spending by £2 billion annually, support local growth through Investment Zones, ensure nationwide gigabit broadband by 2030, and support women entrepreneurs with a dedicated fund. The Labour Party aims to foster innovation with a new regulatory framework, simplify infrastructure development policies, leverage AI for enhanced medical diagnostics, invest in future industries via the National Wealth Fund, and improve regional support through British Business Bank reforms. The Liberal Democrats aim to ensure universal gigabit broadband, foster a supportive business environment for skills development and R&D, establish a forward-thinking AI regulatory framework, lead in climate-related technologies, and empower the NHS with innovative digital tools. Stay tuned for our next post where we compare manifesto commitments from the Green Party, Reform, and the Scottish National Party. #UKElection2024 #ElectionManifestos #Startups #Innovation #Entrepreneurship #Founders
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The results are in - Labour has won the General Election, but what does this mean for the UK’s technology ecosystem? ?? Our Head of Engagement Ali Nicholl features in today’s Startups.co.uk article on what UK businesses need now from our new prime minister ?? Ali shares his views on why the next government needs to drive our startups and SME economy towards growth and prosperity, and how the UK should be looking towards leveraging AI and data infrastructure to securely and responsibly enable a sustainable future: “We have a generational opportunity to invest in enablers for change” ?? ??Read Ali’s comments in the full article here: https://shorturl.at/fijQl #Labour #GeneralElection #TechEcosystem #Startups #SMEs #AI #DataInfrastructure #SustainableFuture
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Interesting opinion piece from the Evening Standards’ Alex Depledge on the incoming Labour administration in the UK. A clear cut case is put forward for how the new government should think about the tech ecosystem in the UK: ‘Startups need three things to thrive - access to talent, finance and pragmatic regulation. It's easy for Governments to think fancy policies with bells and whistles will help when often it’s getting the basics right that matters more. And now founders face harsher economic winds - investment has plateaued and many startups are stunted by regulatory complexity and oligopolies.’ Tackling these issues will enable the UK to compete in the global race for tech supremacy.
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Extra investment to grow and nurture high-growth businesses and entrepreneurs has been announced by the Scottish Government. The £5 million package aims to help deliver end-to-end support for Scotland’s start-up companies. It forms part of an ongoing to commitment by the government to deliver on the recommendations of the Logan report into developing a world-class technology sector, and the Pathways report which is focussed on expanding the number of women starting and scaling-up businesses. The package includes: - funding to expand the business funding competition Scottish EDGE, helping broaden and tailor the range of financial support available to fledgling businesses - the development of pre-start support, aimed at stimulating the earliest stages of business creation and product development for under-represented groups. - support to maximise the economic impact of university spin-out companies, and commercialise research - investing in initiatives that will attract the world’s top talent and showcase Scotland as a global destination for start-up founders and investors. The additional support coincides with an announcement that Codebase, delivery partners of the Scottish Government’s £42 million Techscaler programme, are to partner with Scottish EDGE to develop the end-to-end support offered to businesses and entrepreneurs. Deputy First Minister and Economy Secretary Kate Forbes announced the new funding as she visited the National Robotarium, the UK’s centre for Robotics and Artificial Intelligence and home to a number of spin-out tech companies. Read more ?? https://buff.ly/4azFgGt The Scottish Chambers of Commerce Network is here to support your business - reach out to share your views, concerns and opportunities. #SCCnews #businesssupport #businessnetwork #businessvoice #businessleader Sign up for the Scottish Chambers of Commerce enewsletter at https://buff.ly/3CpsQnu
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It’s clear how vital the tech sector is to the growth of the UK economy. Yesterday was the first evening of the Labour Party Conference, and it was great to join a dinner hosted by the Startup Coalition. Today we heard the Chancellor share more on our new Government’s growth plans. I hope that 30th October will deliver a budget that prioritises access to capital and talent for entrepreneurs at all stages – particularly growth stage founders. We know the UK is a great place to start a business, but we need to get better at helping our founders scale and remain competitive on the global stage. This means making the UK the ideal environment for innovation, removing barriers to growth like brain drain and limits to later stage capital, as well as strengthening our tech ecosystem as a whole to incentivise growth beyond critical mass and broaden viable exit strategies. It’s encouraging to hear the government's plans to boost growth and productivity, and the acknowledgement that a new industrial strategy is required to achieve this. We must stay focused on the industries of the future if we’re intent on sustainable, long-term growth. We must make our innovation economy maximally appealing to international investors if we’re to deliver on a budget of real ambition. We’re looking forward to working closely with the new Government to achieve these conditions and look forward to seeing what else comes from the conference this week… #UK #Tech #Founders #LabourPartyConference #Scaleups #Growth #InnovationEconomy Rt Hon Rachel Reeves Jonathan Reynolds MP Varun Chandra
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?? How are UK startups preparing for the upcoming election in July? With the UK's #tech startup ecosystem now valued at over $1tn, Robert Scammell discusses with #startup business leaders what this election will mean for them. From #AI strategy to #FinTech policies, the tech industry is watching closely ?? ? Read the full piece in UKTN here: https://shorturl.at/R48Am #Innovation #GeneralElection #UKTech #Insight
UK startups prepare for political pivot as Sunak calls July general election
https://www.uktech.news
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?? Wondering what the new government means for startups and scaleups? The answer is: a rare opportunity, but you will need to think through your approach. ???? Check out our article this week on how and why it’s never too early to meaningfully invest in policy and government relations, especially now. New Ministers and MPs are creating plans, looking for experts - and ready to listen. ?? But to get it right, it’s important to do your research and map the policy areas that matter for your company. Read our piece here - and please get in touch if you’re interested in learning more about how Founders Comms can help. https://lnkd.in/eVDXEf7s Peter Kyle Rt Hon Rachel Reeves Jonathan Reynolds MP #startups #scaleups #founderscomms #startuppolicy #foundersforum
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When it comes to #tech, Britain’s calling card is not as sparkling as it once was... The UK tech landscape has survived many things during the 14 years of consecutive #Conservative governments:? - #Brexit - A tech #talent pipeline problem? - A two-and-a-half-year hiatus?of its membership in #Horizon (#Europe’s key #science and #innovation program) - An over-reliance on foreign #investors - A worrying lack of appeal as a place to grow #startups or go public Despite all these headwinds, the UK tech sector is still in remarkably good shape: - It has?around 50 startup #unicorns?(companies valued at over $1 billion) - Its tech #industry remains the third-most-valuable in the world after the #US and #China The message to this #Labour #government from startup #founders, investors, and tech advocates is clear:? - Improve #investment #opportunities - Unlock the potential of future technologies - Steal certain things from the playbooks of former Conservative governments—and other nations—to get ahead The incoming Labour government could turbocharge the tech industry into a new renaissance—if #politics don’t get in the way. Read all about it on WIRED: https://lnkd.in/ecrxWHXw
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With the #GeneralElection now confirmed for 4th July, I spoke to Richard Parris at Startups.co.uk about the policies UK businesses hope to see prioritised by the elected government. #Defence and international cooperation must be top of the agenda for each party's soon-to-be unveiled #ElectionManifesto, if we’re to be properly safeguarded amidst rising geopolitical tensions. Not only for the purpose of #NationalSecurity, but also #food and #energy security. Technological #innovation will undoubtedly be central to success here, so the future government, whoever that may be, must dedicate #investment to the companies driving progress in the vital sectors of #DefenceTech and #AgriTech. Read the full article via the link: https://shorturl.at/34OmE #Technology #Startups #Investor
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Last week, I had the honour of contributing to a Startups.co.uk article that featured opinions and suggestions from the UK's #tech businesses to the new UK Labour government and our new PM, Keir Starmer. We shared our thoughts about what UK businesses need. Naturally, #AI was a huge topic. In the article, I expressed my concerns about the speed of AI upskilling in this country. As an economy, we need to overcome the fear of artificial intelligence solutions and find the right balance between innovation and regulation as soon as possible. We must invest in creating a highly trained and skilled workforce that works efficiently and leads the path to innovation on both the European and international arenas. I highly recommend reading the article as it features some great ideas and points of view from the contributors. Thank you to Richard Parris for this opportunity and other contributors for their great insights: Deann Evans @ Shopify, Sean Kane @ F6S, Timothy Mills @ ACF Investors, Dr Roeland P.-J. E. Decorte @ Decorte Future Industries, Dominic Vergine @ Monumo , Daniel Jacob @ Marriott Harrison, Anthony Walker @ Liverpool John Moores University, Tracey Hill ???? @ The Pause Effect, Christiana Stewart-Lockhart @ Enterprise Investment Scheme Association (EISA), Andy Herbert @ Invizius & GEMINI THERAPEUTICS, Seb Wallace @ Triple Point, Thomas Adcock @ Gravita, Chris Ballance @ Oxford Ionics, Ali Nicholl @ IOTICS, Anthony Horrigan @ Spktral, Sarah Turner @ Angel Academe - increasing female investment, Dave Holt @ Potter Clarkson, Di Gilpin @ Smart Green Shipping, Duncan Johnson @ Northern Gritstone, Nick New @ Optalysis, Eleanor Akers @ Innovative Energy Consultants
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Davos ????and Trump's Inauguration ????has been filling my newsfeed but the UK had some great news yesterday. ???????????????? ??The 100 Fastest Growing Tech companies. ??The top 100 had combined revenue of £3.2bn up from £2.6bn 3 years ago. ??AND the majority are hiring. ??17% have a female CEO/founder or co-founder. ??90% of them have secured external money raising £10bn collectively. ??2/3 reported losses so it is so important that they are funded by patient investors which is why unlocking UK pension and insurance capital for growth companies here in the UK is so important for UK's future growth and some serious returns for investors. Great British companies SuperScaling Superfast.???? #growth #superscale #entrepreneurs #founders #tech #UK 100 fastest-growing tech companies in Britain revealed https://lnkd.in/eGknBYxW
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