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1702390

registered interest
date	19/04/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Technology: New Businesses
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business and Trade, what steps she is taking to help (a) support the growth and (b) increase the number of high-value tech companies based in the UK.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	22786
answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Science and Technology framework (updated February 2024) outlines the Government’s actions to ensure the UK becomes a Science and Technology Superpower by 2030, including addressing access to finance and skills.</p><p> </p><p>The Department supports access to talent through programmes such as the Global Talent Network attracting overseas skills, and via the British Business Bank (100% Government owned) running multiple programmes e.g. Future Fund Breakthrough a £425 million direct equity investment programme.</p><p> </p><p>The Department also provides support for attracting tech companies to the UK, including the Global Entrepreneurs programme (which supports tech companies to bring their global HQs to the UK).</p><p> </p><p> </p><p> </p><p> </p> answering member constituency Havant answering member printed Alan Mak question first answered 24/04/2024 15:17:09 answering member 4484 label Biography information for Alan Mak
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701819

registered interest
date	17/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Technology: New Businesses
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what incentives are available to encourage growth strategies among UK tech firms; and whether he plans to take steps to help increase the number of high-value tech companies based in the UK.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	22367
answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The government is backing British business to drive long-term economic growth by tackling barriers to investment, cutting taxes and rewarding work, and by supporting the priority growth sectors, including digital technology, which are helping to turn the UK into the world’s next Silicon Valley. The UK has Europe’s leading tech ecosystem, valued at over $1trillion, and the government is acting to create the best environment for our most innovative tech companies to start, scale and stay in the UK. This includes making over £3.5 billion of public investment in the AI ecosystem since 2014, extending the sunset clause for the Enterprise Investment Scheme and the Venture Capital Trust scheme to 6 April 2035, making changes to simplify and improve R&amp;D tax reliefs, extending the British Business Bank’s Future Fund: Breakthrough investment programme, and implementing the measures the Chancellor announced at last year’s Mansion House speech to reform the pensions market to unlock investment into high growth sectors and generate increased returns for savers.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 24/04/2024 14:26:40 answering member 4850 label Biography information for Gareth Davies
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1584446

registered interest
date	06/02/2023
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Technology: New Businesses
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Science, Innovation and Technology, what steps her Department is taking to help increase the growth of regional technology (a) start-ups and (b) scale-ups.
tabling member constituency	Solihull
tabling member printed	Julian Knight
uin	140188
answer	answer is ministerial correction date of answer 16/02/2023 answer text <p>We are proud that the UK’s start up and scale up tech ecosystem was recently valued at over £1 trillion and that the UK is only the third country in the world to have a tech sector reach this valuation. We are committed to ensuring the benefits and growth of the tech sector are felt in all corners of the country.</p><p>We are supporting businesses across the UK through investment. The £12 million Digital Growth Grant will continue to support companies across the UK to access finance and business advice through tailored growth programmes and events. In addition, the £2.6 billion UKSPF fund encourages areas across the UK to consider interventions to support and grow their local tech ecosystems.</p><p>Tailored support and localised interventions will be important to successful economic growth across the regions. We published a <a href="https://www.gov.uk/government/publications/assessing-the-uks-regional-digital-ecosystems" target="_blank">Regional Tech Ecosystems report</a>, which identified several regions as digital and tech growth hubs across the UK and aims to better understand the drivers of growth at a local level.</p><p>Government engagement with the tech community is one of the key levers used to understand the needs of the sector, whilst also promoting the sector's success. Ministers engage frequently with the sector through roundtable discussions and bilaterals to better understand the challenges and opportunities facing growth, such as those conducted whilst developing our Digital Strategy. From a promotional perspective, Ministers often proactively engage with regional tech events, such as Birmingham Tech Week, and utilise the Department’s convening power to highlight the importance of regional investment. The department’s communication strategies further champion the regional ecosystems through promotion of regional success stories to a national and international audience.</p><p> </p> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 16/02/2023 12:04:33 answering member 4414 label Biography information for Paul Scully
tabling member	4410 label Biography information for Julian Knight

1169321

registered interest
date	07/01/2020
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Technology: New Businesses
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to support technology start-ups.
tabling member printed	Lord Taylor of Warwick
uin	HL177
answer	answer is ministerial correction date of answer 21/01/2020 answer text <p>As outlined in our Digital Strategy, the Government’s ambition is to ensure the UK is the best place in the world to start and grow a digital business.</p><p>To support access to finance, the Government has introduced a new £2.5 billion British Patient Capital programme, which is expected to attract a further £5 billion in private investment. This will support UK companies with high growth potential to access the long-term investment they need to grow and internationalise.</p><p>To continue to attract international talent, the Government has: doubled the number of Tier 1 Exceptional Talent visas to 2,000; taken doctors and nurses out of the Tier 2 visa cap, increasing the number of skilled worker visas available to other sectors, including tech; and launched the new Start-Up and Innovator visa routes for entrepreneurs. In addition, the Government has committed to introducing a new 2 year visa route for individuals who graduate from UK higher education providers.</p><p>The Government continues to fund Tech Nation, supporting their work to accelerate the growth of the digital tech sector across the country. Tech Nation deliver growth programmes for the sector aimed at stages across the business lifecycle, with programme alumni including Monzo, Deliveroo and Funding Circle. In the past year, Tech Nation have started sector-specific growth programmes in AI and Cyber, in addition to their FinTech programme. In 2019, Tech Nation's growth programmes supported 649 tech companies. Tech Nation have a regional network of 11 Entrepreneur Engagement Managers (EEMs) working across the UK to support entrepreneurs, startups and scaleups to access their programmes and networks.</p><p>Finally, at London Tech Week 2019, the PM launched a study into the competitiveness of the UK Tech Sector. Reporting later this year, the study will identify key opportunities and support mechanisms to further accelerate business growth in the digital tech sector.</p> answering member printed Baroness Barran question first answered 21/01/2020 17:54:12 answering member 4703 label Biography information for Baroness Barran
tabling member	1796 label Biography information for Lord Taylor of Warwick

1130855

registered interest
date	10/06/2019
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Technology: New Businesses
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to continue to increase the number of UK technology business start-ups after Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL16222
answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>We are confident the digital technology sector and its startup community will continue to go from strength to strength. As outlined in our Digital Strategy and Charter, our ambition is to ensure the UK is the best place in the world to start and grow a digital business - and that ambition remains after we leave the EU. Tech Nation and Dealroom have released figures showing that investment in UK tech reached £6.8 billion ($8.7bn) last year and has already reached £3.8 billion ($4.8bn) in the first half of 2019, showing that the UK tech ecosystem is still world-leading and remains in a strong position.</p><p>Through our extensive engagement with the sector, we understand that the primary barriers to growth for startups are having adequate access to both finance and talent. That is why for finance, Government announced a new £2.5 billion British Patient Capital programme, which is expected to attract a further £5 billion in private investment, in order to support UK companies with high growth potential to access the long-term investment they need to grow and go global.</p><p>To continue to attract international talent, we have doubled the number of Tier 1 Exceptional Talent visas to 2,000, and taken doctors and nurses out of the Tier 2 visa cap, freeing up many more skilled worker visas to other sectors, including tech. At the end of March this year, Home Office launched the new Start-Up and Innovator visa routes for entrepreneurs, which will replace a route exclusively for graduates, opening it up to other talented business founders.</p><p>In the Autumn Budget 2017 we also announced investment of £21 million to expand Tech City UK into a nationwide network – Tech Nation – aimed at accelerating the growth of the digital tech sector across the country. The funding will help Tech Nation support 40,000 entrepreneurs and up to 4,000 start-ups as they scale their businesses across the UK including Belfast, Cardiff, Edinburgh, and Newcastle. And at London Tech Week last week, the PM launched a study into tech competitiveness - this will identify key opportunities and support mechanisms for business growth in the digital tech sector.</p> answering member printed Lord Ashton of Hyde question first answered 24/06/2019 11:33:17 answering member 4247 label Biography information for Lord Ashton of Hyde
tabling member	1796 label Biography information for Lord Taylor of Warwick

1090918

registered interest
date	18/03/2019
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Technology: New Businesses
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Digital, Culture, Media and Sport, what recent steps the Government has taken to support tech start-ups in the Midlands.
tabling member constituency	Mansfield
tabling member printed	Ben Bradley
uin	233565
answer	answer is ministerial correction date of answer 25/03/2019 answer text <p>In the Autumn Budget 2017 we announced investment of £21 million to expand Tech City UK into a nationwide network – Tech Nation – aimed at accelerating the growth of the digital tech sector across the country. The funding will help Tech Nation support 40,000 entrepreneurs and up to 4,000 start-ups as they scale their businesses across the UK. This includes Birmingham, with Tech Nation highlighting that digital tech turnover for the Midlands came in at £7.7billion in 2017.</p><p> </p><p>DCMS investments in the wider business environment are creating and developing the conditions for digital businesses in the Midlands to start and grow. In September 2018, the Government announced the West Midlands Combined Authority (WMCA) as the lead partner of the Urban Connected Communities (UCC) Project. This initiative will see the development of a large-scale 5G pilot across the region, with hubs in cities such as Birmingham, Coventry and Wolverhampton.</p><p> </p><p>The UCC project will design wireless infrastructure to deliver high quality connectivity and allow new 5G applications to be trialled in a number of sectors; allow industry to test different deployment models for 5G infrastructure and help inform the development of policy and regulation to support 5G deployment. Up to £50 million is currently available for the UCC, including £25 million of DCMS funding.</p><p> </p><p>DCMS are supporting the West Midlands Digital Skills Partnership which was launched in December last year. Bringing together some key regional stakeholders, supported by industry partners and Government, the West Midlands are exploring innovative ways in which to improve the talent pipeline in the region.</p><p> </p><p>Government further recognises that supporting digital businesses in the Midlands requires us to encourage innovation and adoption of digital tech in other sectors. The emerging West Midlands Industrial Strategy identifies exciting opportunities around data-driven health diagnostics, which will provide opportunities to test and commercialise new technologies, among wider opportunities for industrial digitisation applicable to local economic strengths. My officials also look forward to working with partners in Leicester &amp; Leicestershire and Nottingham &amp; Nottinghamshire in the near future, as they open discussion with Government around their Local Industrial Strategies.</p> answering member constituency Stourbridge answering member printed Margot James question first answered 25/03/2019 15:25:38 answering member 4115 label Biography information for Margot James
tabling member	4663 label Biography information for Ben Bradley