Whilst it is clear that the UK has the potential to attract and retain talented individuals and innovative ventures, there are still concerns that not enough is being done to reverse the outflow of research and tech talent from the US to the UK. By adopting a holistic approach that focuses on funding, facilities, and legal support, the UK government can create an ecosystem that is truly attractive to start-ups and spin-outs, not just domestically but globally. Giles Pinnington's comments on this year's autumn statement have been featured in full by Prolific North (The North's independent news and events publisher for the digital and creative sectors) and can be found below.
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M&C in the news: Commentary on the 2023 Autumn Statement featured by Prolific North
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Giles Pinnington, a partner at intellectual property firm Marks & Clerk, which specialises in protecting the IP of university research and university spinouts, saw a missed opportunity to reverse the outflow of research and tech talent from the US to the UK: “We have seen the impact of the US Inflation Reduction Act drawing innovative UK start-ups and spin-outs over to the US with lab space and funding, and so it is important for the UK government to potentially even reverse the flow by ensuring that there is an ecosystem that is attractive to spin-outs and start-ups not only in the UK, but also from around the world,” he said. “With the UK’s world-class universities and sophisticated financial and legal offerings, a joined up approach by the UK Government could reap significant benefits.”
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