Cross-government drive to cement UK as world capital of tech

Building on our already booming tech sector – which is the largest in Europe with a $1 trillion valuation – Ministers will set out their stall to make the UK the most innovative economy in the world and ensure it is the best place for tech businesses to invest and grow.

The week will feature speeches and panel sessions from senior government ministers throughout, including the Chancellor, Technology Secretary Chloe Smith and DSIT Ministers John Whittingdale, Paul Scully, Viscount Camrose and George Freeman.

Nine Government departments in total will be staging events with a range of key stakeholders, from quantum researchers to AI developers and tech entrepreneurs. This comes as Government invests £370 million to secure the UK’s leading position in the five transformative technologies of tomorrow: Quantum, AI, Bioengineering, Telecoms and Semiconductors.

These will have profound impacts and technological advances for our society including advances in diagnosing and curing diseases, converting waste into fuel and navigating without satellites – all while delivering on the PM’s priority to grow the economy.

Science and Technology Secretary, Chloe Smith said: “The UK tech industry is one of the engines for our economic growth. And its success shows just how vital it is that we deliver on our plan to cement the UK’s status as a Science and Technology ‘Superpower’ by 2030.

“London Tech Week is a clear embodiment of the UK’s thriving tech industry, and demonstrates the unique combination of world class talent, R&D capability, and pro-innovation regulation that means the UK remains the best place to invest in tech in Europe.”

This follows the Prime Minister’s visit to Washington DC, where he told US businesspeople that economic and defence cooperation must be the two pillars of the UK-US alliance. Coming on top of our trade relationship already worth £279bn a year, the Prime Minister welcomed US firms’ commitment last week of more than £14bn new investment in the UK.

He also announced plans to host the first major global summit on AI safety, with UK leadership on this welcomed by US President Biden. The summit will put the UK at the heart of developing safe and responsible technology through international coordinated action, something which has been recognised by like-minded allies and partners around the world.