UK could become hi-tech titan

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World's 4th largest economy could become the world's high-technology superpower.

UK 'could become hi-tech titan'

The UK could become one of the world's hi-tech titans, a report has said.

Compiled by analysts Deloitte, it says the UK could be a world-beater in technology if it harnessed strengths in basic science, research and finance.

But the chance to create a hi-tech haven would disappear without better co-operation between technologists, academics, financiers and government.

The report urged swift action because overseas competition was threatening to eclipse the UK's advantages.

Winning hand

The Deloitte report said the UK was at a key point in its potential development as a hi-tech nation. Currently Britain has a strong science base, a thriving community of innovators, a strong economy and financial market.

What the UK needs to do is work out how to use this good start to make the country a global technology leader, said the report, which drew on the opinions of more than 50 of the UK's top technology opinion-formers.


William Touche, a technology partner at Deloitte and one of the report's authors, said the UK was already a strong competitor in stem cell research, biotechnology, micro-electronics, semi-conductor design, software and opto-electronics.
To build on this and create a British equivalent of tech giants such as Microsoft, co-operation and communication between all those involved in the UK's hi-tech sector - government, researchers, businesses and financiers - was key.

Better communication would also help Britain's hi-tech firms promote themselves, said the report.

"UK technology companies should not be shy about identifying, exploiting and even advertising the shortcomings of other countries, particularly if these proffer the UK competitive advantage," the report said.

Other factors that could help include ensuring that teachers know how what they teach applies to the commercial world.

Government also needed to ensure there were adequate funds for research, that cash was targeted appropriately and that enough was being done to encourage regional hotspots such as the hi-tech cluster around Cambridge.

The report also had lessons for financiers. It urged venture capital firms to get over the distrust of technology firms they harbour following the dotcom crash.

The time available to turn the UK into a hi-tech haven was running out, said Mr Touche, as China and India grow and their workforces become more educated.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/technology/4683751.stm



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The UK is still the ONLY EU nation at this time able to compete with China and India.

 

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UK Wins Bio-IT World's 2005 Award for Stem Cell
Innovation

UKTI, 5 July 2005

UK Trade & Investment, the British Government's international business development agency, accepted the Bio-IT World's 2005 Best Practices Award at the Bio-IT World Awards dinner in Washington DC. The UK received the award in the category of “Knowledge Management and Collaboration” for its global model of best practices in stem cell innovation.


UK Wins Bio-IT World's 2005 Best Practices Award for Stem Cell Innovation
UK Global Model Recognized in “Knowledge Management and Collaboration” Category


UK Trade & Investment, the British Government's international business development agency, accepted the Bio-IT World's 2005 Best Practices Award at the Bio-IT World Awards dinner in Washington, DC. The UK received the award in the category of “Knowledge Management and Collaboration” for its global model of best practices in stem cell innovation.

“The future of the entire health sciences arena is essentially being dictated by the advances that are resulting from the model that the UK government has established through its unambiguous, robust and ethical policy on stem cells,” said Dr. Stefan Winkler, vice consul Science and Technology. “By setting the gold standard in stem cell policy, the UK government has set the stage for technological stem cell innovation around the world and is fostering an environment where the future of global biomedicine can thrive.”

Despite current debate over the use of stem cells and its consequent hindrance to progress, the UK government has taken a clear stance and in the past year, implemented a progressive platform that includes dedicated resources, funding and collaboration among academic, government and commercial stakeholders. As a result, the government has created a regulatory framework that fosters an environment of international collaboration and “best in class” research and development programs that are responsible for biomedical breakthroughs across the world today.

In May 2004, the UK government took a prominent global stance through the establishment of a $4.7 million public stem cell bank. Adhering to the highest regulatory and technology standards, the bank provides a global access to ethically approved and quality controlled cell lines for use in the development of clinical applications and basic research.

"The UK Trade & Investment entry for the UK really stood out in the minds of the judging panel," explained Bio-IT World editor-in-chief Kevin Davies. "There is no doubt about the incredible potential of stem cell technology. This award recognizes the great strides being made in the UK to stimulate innovation in this field, and to facilitate global research through the stem cell bank. It may also serve as a wake-up call to other countries that are in danger of falling behind in this critical area."

The UK Trade & Investment's entry was peer-reviewed by a panel of expert judges and selected from among 33 lengthy submissions from organizations ranging from large pharmaceutical and biotechnology companies to academic institutions, detailing best practices in one of six categories.