Sunday, April 19, 2009

UK High-Tech Needs Bailout

According to the National Endowment for Science, Technology, and the Arts (Nesta), there was a 70% fall in venture capital funding last year, and the UK could lose as much as $6 billion a year to 2013, should they lose ground in the digital arena. The firm suggests the government and private sector "go half-and-half" to raise $1 billion for the industry and avoid the consequences.

Nesta identified two other areas in which the UK is losing its standing: healthcare and green technologies. It urged the government to consider these areas closely when deciding on the multi-billion fiscal stimulus package.

© C Harris Lynn, 2009

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