As the tech sector continues to skyrocket, Ed Vaizey explained that he wants to enable Britain to pioneer new technology.
The Digital Industries Minister revealed yesterday that he wants driverless cars, automated restaurants and drones all over the UK.
Vaizey emphasised that as Government gets a better understanding of what tech companies want, the UK can further cement its position as “one of the best places to start a tech company”.
Speaking on stage during the final afternoon of TechCrunch Disrupt, he discussed corporation tax, what’s holding British tech back and the fintech furore taking over the financial sector.
Not just London
Vaizey was announced as Digital Minister in the July reshuffle and the tone of the fireside chat echoed the pro-tech rhetoric that the Tories have been firmly pushing in 2014.
He celebrated the boom of tech, not just in London but all over the UK.
We’ve got tech clusters all the way from Dundee to Brighton.
Leamington Spa is teaming with gaming tech.
Far from perfect
Prompted by his interviewer, Editor-at-large of TechCrunch Mike Butcher, Vaizey acknowledged that there was still much more work to be done to help tech SMEs.
When asked about the notoriously poor broadband around London’s tech cluster, he said that Government heard the complaints “loud and clear”.
It doesn’t happen overnight. It’s about perseverance.
He added he believes a skills gap and financing for companies were the two biggest problems for British tech.
The Digital Industries Minister revealed he is in talks with both European and American VCs to better understand how the Government can promote funding in the UK.
Fintech is booming
Vaizey made a particular point of highlighting the growth of London’s fintech sector, which is widely regarded as the leader in Europe.
In August, George Osbourne announced a review into the use of cryptocurrencies in the UK, amongst a number other of reviews and legislation.
It was followed by one of the biggest investments into a bitcoin company to-date, with London-based Blockchain raising $30m.