TLDR:
- UK struggles to keep globally relevant tech firms
- Former Arm CEO Warren East criticizes UK’s poor commercialization of technology
- Tech companies often move operations or list abroad due to difficulties in UK
- UK needs increased risk appetite and investor support for high-growth tech firms
- Changes to capital market rules could stimulate more investment in startups
The United Kingdom’s technology sector is grappling with challenges in commercializing innovations on a global scale, according to Warren East, former CEO of chip design firm Arm.
Speaking at Cambridge Tech Week, East highlighted the country’s difficulty in retaining and growing tech companies to achieve international relevance.
East, who led Arm from 1994 to 2013, expressed concern over the UK’s lackluster economic growth and poor GDP per capita rates, describing them as a source of national “embarrassment.”
He pointed out that many UK-based tech firms tend to relocate their operations overseas or choose to list on foreign stock exchanges, particularly in the United States.
The former executive emphasized that…
