LONDON: Britain launched a digital strategy focused on simplifying regulation, supporting critical technologies like semiconductors and tackling skills gaps to help drive economic growth.
Tech minister Chris Philp said UK firms had raised more than 12 billion pounds ($14.6 billion) in venture capital so far this year, second only to the United States, and the new plan would ensure the country remained a science and tech superpower.
Government would work across departments to support critical future technologies, such as quantum computing and advanced semiconductors, he said.
The country’s position in semiconductors suffered a major blow in 2016 when flagship company ARM was sold to Japan’s Softbank.
The chip designer is now set to be floated after a sale to Nvidia collapsed earlier this year, with Softbank favouring the U.S. Nasdaq market for the listing rather than London.
Philp, however, said Britain was still involved in the process. “We’re working closely with ARM as we work closely with all significant UK tech companies,” he told Reuters at London Tech Week.
Regulation was…
