UK’s creativity will create the ‘World’s next Silicon Valley’

UK’s creativity will create the ‘World’s next Silicon Valley’

The Chancellor of the Exchequer Jeremy Hunt said at a recent event, addressing creative industry leaders, that Britain has what it takes to become the “World’s next Silicon Valley”. 

The Chancellor of the Exchequer Jeremy Hunt said at a recent event, addressing creative industry leaders, that Britain has what it takes to become the “World’s next Silicon Valley”. 

As Chancellor, he shared the Prime Minister’s ambitions for the UK to become a “science and technology superpower”.

He said: “We have the ingredients to do something remarkable.

“We don’t just have the creativity, the entrepreneurs, the amazing businesses, but we have the world’s second-largest financial sector to help those businesses grow and we have one of the world’s most respected higher education sectors to provide the research and development to sit behind it.

“It’s a unique combination, it’s the combination Silicon Valley itself had. But there aren’t very many other places in the world that have that combination.”

The Chancellor also highlighted the need for creative industries at the forefront of tech development, saying: “Technology needs creativity and creativity needs technology.

“All your businesses have been completely transformed by tech over the last decade but actually the tech industry needs the creativity that is the starting point of all your businesses.”

Ministers want to cement the UK as a tech superpower by 2030 and have pledged £370m to boost investment in innovation, bring global talent to the UK and fund cutting-edge AI research.

NEN chairman Alex Till commented: “At NEN we believe that entrepreneurs, SMEs and micro businesses are a crucial part of the UK’s creative and technology sector. They are innovative, agile and adaptive to new trends, and quick to generate new ideas and solutions.

“We support the ambition for the UK to become a science and technology superpower, with SMEs helping to lead the way and call on the Government to recognise their crucial involvement. Together, we can shape the future and make a lasting impact.”