#RegulatorySandboxes

[thxnews]

UK's Tech Revolution: Investor Innovations Soar

  Revolutionizing Tech Regulation and Boosting Investor Partnerships

In a groundbreaking announcement at the Global Investment Summit on Monday, the Science and Technology Secretary introduced plans for the safe and proportional regulation of high-potential technologies. The focus areas include clean aviation, drones, and a significant boost to the government’s investor partnership program for high-potential UK science and tech businesses.   Paving the Way for Innovation - New Regulatory Sandboxes and Testbeds Following the recent revelation of regulatory sandboxes in the Autumn Statement, the government is expanding its commitment with the introduction of three additional sandboxes and testbeds. These spaces will facilitate UK firms and researchers in developing hydrogen as a zero-emission fuel for aviation, exploring drone applications in passenger transport and deliveries, and deploying self-piloting marine technology. The collaborative efforts between innovators and regulators aim to safely test and refine new technologies, reducing barriers for innovators and enhancing regulatory decision-making processes.  

Unveiling the Investor Partnerships Programme's New Allies

The government’s ambition to propel UK R&D investments forward takes a significant stride with the announcement of 29 new partners joining the Investor Partnerships program. Previous iterations of this program have successfully unlocked over £370 million in private partner backing. The Department for Science, Innovation, and Technology (DSIT), through Innovate UK, is making an investment of over £110 million alongside private investors. This substantial commitment seeks to inject vital funds into scaling up UK businesses implementing game-changing technologies addressing global challenges, from climate change to healthcare.   A Visionary Approach to Science and Tech Innovation Expressing her perspective on the initiative, Secretary of State for Science, Innovation, and Technology Michelle Donelan emphasizes the critical role of investment in unlocking the potential of scientific breakthroughs. She emphatically underscores the government's unwavering commitment to fostering deeper links with private investors. This commitment aims to assist UK businesses in scaling up, expanding the country’s skills base, and collaboratively developing regulations. The primary goal is to encourage innovation while prioritizing safety.  

Front and Center at the Global Investment Summit

The Global Investment Summit provides a platform for game-changing technologies and scientific innovations. In this showcase, it's noteworthy to spotlight pioneering companies spanning the UK's landscape, encompassing established global giants like Alphabet and Arm, alongside newer businesses such as Oxford Quantum Circuits and Delta-G, a spin-out from Birmingham University.   Expanding the Innovate UK Investor Partnership Program The government's latest initiative involves expanding the Innovate UK Investor Partnership Programme, collaborating with investors like Amadeus Capital and Anglo-American. This move aims to foster collaboration between innovative small and medium-sized UK companies and investors, propelling these businesses to new heights. Previous investor partnership programs between 2017 and 2022 unlocked substantial grant funding, equity investment, and additional private investment for UK SMEs.  

Balancing Regulation for Frontier Technologies

The government's deployment of regulatory sandboxes underscores its commitment to harnessing the potential of frontier technologies like AI to create new industries and jobs. Striking a balance between pro-innovation regulation that stimulates demand for science and technology and safeguarding citizens' interests remains at the forefront of this strategy. This aligns with the recently announced Automated Vehicles Bill, reinforcing safety in the deployment of self-driving vehicle technology and positioning the UK as a global leader in a £42 billion industry. Sources: THX News, Department for Science, Innovation and Technology, Civil Aviation Authority, Innovate UK, & The Rt Hon Michelle Donelan MP. Read the full article

[ibinexnews-blog]

Nations Team Up To Create A Global Sandbox

UK’s Financial Conduct Authority partners with 11 other financial regulators and organizations to create the Global Financial Innovation Network (GFIN). 

Read Full Article: http://bit.ly/12FCAPartners