The UK Budget aims for stability post-announcement, with focus on tech sector. Changes to Enterprise Investment Scheme and Management Incentives set to boost startup investment. Reaction from investors and founders positive, as tech industry welcomes government support in Budget. SMEs benefit from R&D tax credits and no wealth tax introduction.

Tech leaders emphasize need for government as enthusiastic customer for AI startups. Public procurement frameworks must reward innovation for efficient public services. Customer adoption crucial for scaling innovative products. Government can set pace for economy by investing in tech and being a confident customer of innovation.

Healthtech CEO sees potential impact of Budget’s £300m allocation to NHS technology. Focus on AI innovation ecosystem must translate to tangible NHS outcomes. Supporting homegrown AI companies not only improves patient care but fuels economic growth and strengthens AI ecosystem. Data-driven NHS crucial for long-term health and economic competitiveness.

Tech industry cautiously optimistic about Budget’s tech-focused measures. AI Growth Lab, Sovereign AI Unit, and R&D tax credits maintenance show support for tech sector. However, UK still lags in private investment in AI compared to US. Calls for sustained economic stability, investor confidence, and talent pipeline support to reach tech potential. Entrepreneurship fellowships in universities will support commercialization and build on UKRI investments. British Business Bank initiatives, like VentureLink, aim to attract institutional investment into UK scaleups. The government’s Call for Evidence on tax support for entrepreneurs seeks input from the scaleup community to inform future policies.

The UK FinTech community welcomes the Chancellor’s focus on supporting entrepreneurs and founders in the budget. Measures include a call for evidence on existing tax incentives, a stamp duty holiday for newly-listed company shares, and extended tax relief for investment in startups and scaleups.

Budget initiatives aim to boost investment in startups and scaleups, including a stamp duty holiday for newly-listed company shares and extended tax relief for investment. The UKRI’s significant funding towards research and innovative companies underscores the importance of public investment in scientific discovery and innovation.

Public investment in scientific discovery must be complemented by private support to share the rewards. A stronger system would give scientists ownership from the start and reduce dependence on grants. The UK must incentivize private individuals, philanthropists, and foundations to support early scientific discovery for long-term success.

The UK Government’s commitment to innovation and incentivizing enterprise will benefit companies like Phasecraft. Prioritizing long-term partnerships in critical technologies and expanding enterprise incentives will support quantum companies in bridging research with real-world applications. The UK must back companies bringing practical use cases to today’s limited hardware.

Read more at Yahoo Finance: What does it mean for the UK’s tech startup ecosystem?