Outsourcing firms are using the UK as a stepping stone for innovation
From the top down, outsourced IT and data services firms are now using the United Kingdom as a “key stepping stone” for innovation, according to a report.
The Global Entrepreneurship Network (GEIN), a London-based think tank, said companies like Amazon and IBM had used the UK to launch and scale their businesses.
GEIN also revealed that some of the world’s largest tech companies had also started out here, and some of them are looking to the UK for talent and technology.
The report said there was evidence that British companies had successfully used the country’s expertise in data management and data science to help build their businesses, and had even created a culture of innovation.
“We think there are now opportunities for innovation in the UK,” said Paul McDonough, chief executive of GEIN, adding that the UK had become a key gateway to the global economy.
“This has been the main driving force behind the growth of the IT industry and also helped fuel the growth and diversification of the global IT market,” he added.
A new UK prime minister would make it a priority to recruit and retain highly skilled workers in the country, as well as attract the best talent from across the EU.
He would also invest heavily in research and development to support the UK’s future growth, and ensure that it was a global hub for IT.
Despite the economic benefits of the UK, the report noted that the country had also had its fair share of problems with immigration.
In January, Prime Minister Theresa May unveiled a crackdown on the so-called ‘British lottery’ system that allowed British citizens to enter the EU without permission.
Her government said it would crack down on the system after a surge in bogus applications in 2016, when around one in 10 applications from Britain were rejected.
There have also been claims that the number of foreign students taking up the UK-based post-graduate degree programme has risen by 30 per cent in the last five years.
GEIN’s report also highlighted the “challenges” in attracting talent from the EU and the need for greater openness and transparency from UK government departments.
While the UK has attracted some of Europe’s brightest talent in the IT and tech sector, the study said there were also “lack of policies and policies that allow talent from within the EU to come to the country and develop their skills”.