Why CES 2020 shows the UK is a tech superpower
The UK’s position as Europe’s leading tech superpower is being reinforced and demonstrated at Consumer Electronic Show (CES) — the world’s largest tech show — in Las Vegas this week.
As the UK investment minister I’m delighted to be leading a powerful delegation of UK tech companies ranging from startups hosted by the Future Worlds accelerator at Southampton University to more established players.
It’s little understood how profoundly important and successful the UK’s tech scene is, nor how much of a priority and how much resource is given to it by government.
Technology is at the heart of the government’s strategy to meet the grand challenges of climate change, the future of mobility and an aging society as well as a cornerstone of delivering higher living standards and a more productive economy.
The government is committed to sustained, strategic and dynamic use of AI and data which is now being reflected in record levels of foreign investment into our tech ecosystem.
In 2018 UK tech companies received more venture capital funding than any other country in Europe. Last year this rose again with £5.5bn invested in the first seven months alone.
The UK has produced — and is producing — more billion dollar so-called unicorn startups than any other European nation.
At this week’s CES some of the UK’s most innovative companies are putting their products and services on show to nearly a quarter of a million people in Las Vegas as they hope to secure contracts and raise their profiles abroad.
With more than 2.1m people working in digital tech jobs in the UK and the sector contributing £184bn to the economy every year, I know how important this conference is to jobs and investment at home, as well as our reputation internationally.
CES offers a major annual opportunity to sell the UK as the best place in Europe for tech companies to invest as well as boost already booming UK exports.
My message to investors is clear, the UK is the best destination in Europe to start a tech business and the UK is open for business.
Graham Stuart is the UK’s investment minister at the Department for International Trade
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