Oddbean

The tech sector needs an industrial strategy ========== The UK tech sector needs a properly integrated industrial strategy to enable British technology startups to scale. The UK has a rich tech talent pool and some of the world's best scientists, engineers, and business leaders. However, UK spending on R&D lags behind other countries, putting the government's goal of making the UK a global science and technology superpower by 2030 at risk. Without a robust industrial strategy, there is great technology but no monetization, leading to the UK's expertise being donated to overseas investors. The lack of exciting, world-leading companies IPO-ing on the FTSE is also a concern. The government needs to be bold in its vision and provide clear direction and funding to selected companies. The natural conservatism in government policy needs to be overcome to reclaim the UK's industrial and technical pedigree. The author suggests that China's five-year plan offers a model of clarity and ambition that the UK should adopt. The article is written by Noel Hurley, CEO at Literal Labs and a former VP at Arm. #TechSector #IndustrialStrategy #Uk #Startups #R&d #Ftse https://www.standard.co.uk/business/tech-sector-industrial-strategy-investment-b1164639.html