UK Lacks Growth Funding for Critical Sectors Like Quantum, AI

The UK is facing a challenge in providing growth funding for crucial sectors like artificial intelligence (AI), quantum computing, and life sciences. According to a report, UK-based spinout companies in these critical areas are struggling to raise the necessary funds to scale up their operations within the UK. As a result, these companies are often forced to either relocate or sell to US-based companies in order to facilitate their growth. The report highlights the disparity between the UK's strength in research and development and its ability to support the commercialization and scaling of these innovative technologies. This issue raises concerns about the UK's ability to maintain its competitive edge in these strategic sectors, as the lack of growth funding may lead to the loss of valuable intellectual property and talent to international competitors. The findings suggest that the UK government and policymakers may need to re-evaluate their approach to supporting the growth and development of these critical industries to ensure that the country can fully capitalize on its research and development capabilities.