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With the Autumn Budget released on November the 22nd, the UK government laid out its commitment to innovation, and specifically artificial intelligence (AI), immersive technology, driverless cars, life sciences and FinTech. Among the initiatives: a range of investments for new technologies like AI and 5G that add up to over £500 million ($663 million).

The tech sector has been a juggernaut for the last several years in the UK economy, employing 1.5 million people, growing faster than the UK economy, and bringing in nearly £7 billion of investment last year.
Over the next 10 years, the government proposes to spend £20 billion “to finance growth in innovative firms”. This will include a new £2.5 billion investment fund at the British Business Bank, which will co-invest with the private sector to bring the total invested up to £7.5 billion.

Following, the link to the Autumn Budget: https://www.gov.uk/government/publications/autumn-budget-2017-documents/autumn-budget-2017


Source: https://techcrunch.com/2017/11/22/uk-budget-courts-tech-sector-with-663m-in-investments-in-ai-5g-networks-and-more/

 

FM

27/11/2017

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