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Government is failing technology entrepreneurs, say MPs

ComputerWorldUK - Lack of funding and the inability to foster long-term SME growth is stifling the UK’s tech scene.

The UK government is failing technology entrepreneurs and does not have a coherent strategy to support the commercialisation of technology innovation in the UK, MPs have warned.

A report issued today by the Science and Technology Committee points to the UK’s apparent inability to foster small and medium businesses until they become ‘tech giants’, as well as a lack of capital funding due to the effects of regulating to de-risk pension funds.

This will come as a blow to the government, which has been making great attempts in recent months to boost investment in the technology start-up scene, particularly in London’s Tech City. According to the committee’s report, much more could be done to improve the UK’s technology prospects and create long-term, stable growth for the industry.