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The Science and Technology framework (updated February 2024) outlines the Government\u2019s actions to ensure the UK becomes a Science and Technology Superpower by 2030, including addressing access to finance and skills.<\/p>
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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>
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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>
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<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4484", "label" : {"_value" : "Biography information for Alan Mak"} } , "answeringMemberConstituency" : {"_value" : "Havant"} , "answeringMemberPrinted" : {"_value" : "Alan Mak"} , "dateOfAnswer" : {"_value" : "2024-04-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-24T15:17:09.87Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "214"} , "answeringDeptShortName" : {"_value" : "Business and Trade"} , "answeringDeptSortName" : {"_value" : "Business and Trade"} , "date" : {"_value" : "2024-04-19", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Technology: New Businesses"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4638", "label" : {"_value" : "Biography information for Mr Tanmanjeet Singh Dhesi"} } , "tablingMemberConstituency" : {"_value" : "Slough"} , "tablingMemberPrinted" : [{"_value" : "Mr Tanmanjeet Singh Dhesi"} ], "uin" : "22786"} , {"_about" : "http://data.parliament.uk/resources/1701819", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1701819/answer", "answerText" : {"_value" : "
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\u2019s next Silicon Valley. The UK has Europe\u2019s 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&D tax reliefs, extending the British Business Bank\u2019s Future Fund: Breakthrough investment programme, and implementing the measures the Chancellor announced at last year\u2019s Mansion House speech to reform the pensions market to unlock investment into high growth sectors and generate increased returns for savers.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4850", "label" : {"_value" : "Biography information for Gareth Davies"} } , "answeringMemberConstituency" : {"_value" : "Grantham and Stamford"} , "answeringMemberPrinted" : {"_value" : "Gareth Davies"} , "dateOfAnswer" : {"_value" : "2024-04-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-24T14:26:40.31Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-17", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Technology: New Businesses"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4638", "label" : {"_value" : "Biography information for Mr Tanmanjeet Singh Dhesi"} } , "tablingMemberConstituency" : {"_value" : "Slough"} , "tablingMemberPrinted" : [{"_value" : "Mr Tanmanjeet Singh Dhesi"} ], "uin" : "22367"} , {"_about" : "http://data.parliament.uk/resources/1584446", "AnsweringBody" : [{"_value" : "Department for Science, Innovation and Technology"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1584446/answer", "answerText" : {"_value" : "
We are proud that the UK\u2019s 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>
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>