The UK has a 70x disadvantage in venture capital funding from pension funds compared to the US.
That was one of the standout messages from an invigorating Innovation & Technology Dinner at Mansion House, hosted by The Lord Mayor and attended by our CEO, Russ Tucker.
With leaders from across finance, tech, and government, the focus was clear: how do we fuel UK economic growth?
Powerful speeches from The Lord Mayor, the Rt Hon Peter Kyle MP, Secretary of State at DSIT, and Dame Anne Glover of Amadeus Capital Partners left us with some urgent messages:
1. Innovate, don’t imitate. The government is committed to funding UK-based R&D to discover and develop the best tech right here.
2. Keep UK tech in the UK. When we grow world-class companies, we must create an ecosystem where they can scale and stay, guided by our values.
3. Unlock the capital. AI can be our economic flywheel, but it needs energy. That energy is capital. A tiny 0.5% commitment from UK pension funds would 5x our national VC pot from £4B to £20B! 🤯
The passion for UK science and technology is undeniable. Now, we need to unlock the capital to match it.