As of 31 May, more than 950 British technology companies had brought in £12.4bn in private funding, putting the UK second only to the US in terms of start-up investment
that is only forecast to intensify in the months ahead as energy bills rise to stoke inflation further.The forecasts have prompted downgrades to growth expectations from the British Chambers of Commerce and the Organisation for Economic Co-operation and Development last week, the latter warning that theMr Philp said the government was aiming to"grow the UK tech sector's annual gross value add by £41bn in the next three years, creating 700,000 new jobs in the process".
The Department for Business, Energy and Industrial Strategy will publish a Quantum Strategy later this year, with another strategy paper on semiconductors expected to review the UK's position in the global market following a supply shortage. Some of the government's ideas around AI may be challenged by the new information commissioner, John Edwards, as, although businesses are largely supportive of measures that would allow them to use the data they process for customers to improve their products.
"There is a huge opportunity for UK financial institutions, particularly pension funds, to allocate a lot more capital to pre-IPO tech in a way that their North American cousins in America and Canada do already.
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