The government has released a blueprint for technology as part of its plan to put the industry at the heart of...
the UK's economic recovery.
Prime minister David Cameron announced yesterday he wants the east of London to become Britain's Silicon Valley, with a total of £400m being invested in the plan. Large technology companies like Google are also reported to be planning to invest in the area.
Cameron says the technology sector will be "one of the key drivers of the private sector led economic growth that Britain so urgently needs".
The government wants the blueprint document to send a signal to companies that it is the most "technology-friendly" government in the world.
The document says the blueprint will reduce barriers to business, making it easier for them to flourish. An entrepreneurs visa will be introduced, making it easy for those with funding to stay in the UK; an independent review of the intellectual properly framework will be carried out, looking at whether the UK should emulate the US approach to copyright; and a new peer to patent system will be launched, drawing on global expertise to maintain patent quality.
The plan says government is investing in companies through the UK Innovation Investment Fund and Enterprise Capital Funds, and that it wants the "best, superfast broadband network in Europe by 2015".
The blueprint also points to the announcement the government made in the Comprehensive Spending Review for funding made available for 75,000 more adult apprenticeships.
Reaction from business leaders was positive, with the deputy director general of the Confederation of British Industry saying, "We need growth to generate jobs and wealth in the future. This exciting plan for East London is the first part of a broader strategy for growth that the Prime Minister announced at the CBI's conference."