A new campaign has been launched in Silicon Valley to drive investment in the UK’s trillion-dollar technology sector to support emerging technologies and economic growth, amid UK plans to increase spending on research and development to £20 billion in 2024.
Last year, the UK established itself as a tech superpower as it became the third country in the world to achieve a trillion-dollar tech sector, alongside the US and China, with 162 unicorn tech companies valued at more than $1 billion. , more than Germany, France and Sweden combined.
Government research indicates that many Silicon Valley technologists are unaware of the UK’s world-leading strengths This campaign hopes to promote the British sector’s agile regulation and world-class talent through LinkedIn and targeted digital advertising, a content partnership with TechCrunch . Plus a short film by Stephen Fry.
The campaign is being supported by several UK tech companies Darktrace, Deepmind, Revolut and Matillion, with plans to invite US tech leaders to the UK for London Tech Week, further highlighting the government’s strong support for UK technology.
Khalid Talukder, founding partner of DKK Partners commented: “The UK tech sector has established itself as a lucrative global powerhouse over the past few years and should be seen as a leading hub for investment in by Silicon Valley. It is great to see the government showing Continuous support for thriving businesses that help the country’s economy recover and grow. Overseas investments and expansions are a great way to boost growth and revenue generation, providing an increasing opportunity for the UK to enhance its global position by accessing new markets and gaining new influence and skill on a global level.”
For the financial technology industry, huge opportunities lie in the area of payments and foreign exchange services as it enables international trade, speeds up payments and will allow companies to boost their productivity. The UK has always prided itself on being a financial centre, and now, taking advantage of the burgeoning opportunities in FinTech and government support and promotional activities abroad will help this sector achieve its potential.”
Technology Minister Michelle Donnellan said: “The UK has one of the best technology sectors in the world with a valuation in excess of $1 trillion. It is diversified, resilient and continues to grow at a rapid pace with the most venture capital investment in Europe. The aim of this campaign is to attract as much collaboration as possible investment from Silicon Valley.
“The formation of the Science, Innovation and Technology division shows investors and entrepreneurs that the UK is more dedicated than ever to shaping a tech sector that is pro-innovation, gifted for talent and pro-growth. Our commitment to R&D spending to be £20 billion per annum by 2024 drives forward the Government’s ambitions in For the UK to become a science and technology superpower.”