During his presentation at Techuk's Tech Policy Conference In London, Science and Technology Minister Peter Kyle Unveiled Investments, Reforms and Appointments to Drive Innovation and Boost the Economy.
Technology is set to play a Pivotal Role in the Government's Industrial Strategy Called Invest 2035. The government's greenpaper on a 10-yar industrial strategy notes that the Economy has faced socialant Shocks in Recent Years and Has Had a Poor Productivity Record over the past decade and a half, consistently investment less than its internet peers, and tagging on the performance on the performance on South-East.
Kyle said: “Everywahere you see, there is an imbalance of power in this countery which has – for too long – made it impsible to imagine a batter for Britain. To deliver our plan for change, we have to shift the balance of power away from stagnation and old ideas towards innovation and opposite, and to the bold people buying a new future for britain. “
AI, semiconductorrsCyber Security and Quantum Technologies are among the promising technology developments that Could Drive Growth in the UK EconomyBut Direct Support, Which Includes Public Sector Funding, is likely to be needed to stimulate these sector.
The government's Greenpaper on its Industrial StrategyPublished in October 2024, Calls for a targeted strategy where the government takes a deliberate and targeted approach towards growth-Driving sectors and places. The approach requires Temporary Government Support to Scale Up Industries, Particularly that with Potential for Global Competitiveness.
The Greenpaper Urges The Government to Focus on a Range of Technologies and Their Commercialization, with a Portfolio Approach that Backs Smaller, Less Proven and Less Proven and More Disruptive Busines Well-Establed Businesses.
The aim of such support is to provide a stimulus to enable innovative businesses and startups to get the funding they require to scale up. Direct Government Intervention is Seen as a Way to Reduce Uncerty and Support the Development of Critical Sector-Specific Knowledge, and Crowd in Private Capital to Growth-DRIWTAL to Growth-DRIVING Sector.
Direct Government Support, According to the Greenpaper, also encourage competivity and innovative business EcoSystems, Particularly in Industries with low market dynam and HIGHARIS to Entry, and Cain be used to identify the important of strong supply chain linkages between sector.
One Example of Such Direct Support is the quantum missions pilot, which aims to accelerate Quantum computing and quantum networking technologies. During his techuk speech, kyle announced winners of innovate uk's quantum missions pilot, each of with to receive a share of £ 12m to help accelerate the real-building impact of quantum Computing and Quantum Networking Technologies.
The government also said it will be investment £ 23m in Edge Telecoms Research and Deployment to Expand Mobile Coverage for People and Businesses Across the Britain.
As computer weekly has previously reportedDURING his techuk speech, kyle announced an overhaul in how ai experiences and other digital projects are funded in the public sector. The government hopes the overhaul will simplife the process to cut down waste in taxpayer funding.
He also named David willts, who served as science minister from 2010 to 2014, as the first Chair of the regulatory innovation office (Rio). The rio's goal is to ensure the uk's regulatory regime can keep pace with innovation.