Scientific and tech communities today are dealing with changes and advancements moving more rapidly than ever before. The future is full of exciting possibilities. But many in the science and technology sector are considering moving abroad. Along with them, the UK would lose valuable intellectual property, green jobs and economic prosperity.

Operating in a Fragile Ecosystem

The challenging UK economy is but one of the problems facing these sectors. Beyond this, there is a lack of funding, suppliers, academic and commercial partners and a serious lack of skilled workers.

Federally, the government has limited the number of staff businesses can attract from abroad. Then, local regions, cities, science parks and commercial landlords aren’t making it any easier to attract more staff and funding.

Protecting the UK’s Scientific and Tech Ecosystem

Growth, innovation and recruitment are the key issues of the UK’s tech and science sectors. They need:

Access to more employee prospects

Attracting employees means building strong employer appeal. Outside of the organisation, this means attractive, fit-for-purpose office spaces and opportunities to be near peers. Improved local transport, specially built science parks and special international recruitment exemptions for the sector.

Access to partners

Science and technology companies are highly dependent on ecosystems of suppliers and partners. Many collaborate with global businesses and startups alike in both the UK and abroad. It is essential that initiatives designed to support this industry also support their access to these partners. That can mean more business parks specifically for the sector or government support to encourage international partnerships.

Access to funding

Businesses need access to stable funding that can support their research and development activities, as well as help them expand operations and attract new talent. Government investment into specific areas in science and technology should be prioritised to keep this industry local where economy and innovation can continue to support the UK.

These key takeaways have been extracted from our recent report: Building a Future for Science and Technology. This extensive whitepaper features insights from more than 100 senior decision-makers from the UK’s most ambitious and fast-growing science and technology businesses.

Download the full report here.