Navigating Opportunities and Challenges in the UK’s Deep Tech Sector
From my conversations with people in the industry there is a feeling that things are looking up.
There is relative consistency between the new Minister for Science Innovation and Technology with a commitment that investing into deep tech industries was good for the UK.
Here is the transcript of his recent speech at the Farnborough International Air Show. That along with the recent announcements of £160 million investment into 5 Quantum hubs two of which will be in Scotland Five hubs launched to ensure the UK benefits from quantum future – UKRI
There are however, challenges that seem to be focussing people’s minds somewhat. The talent pipeline is too small and there are concerns that not enough undergraduates are taking on PhDs. That, alongside the reality that EU nationals are no longer choosing to move to the UK in anything like the numbers that existed pre-Brexit. The Migration Observatory at Oxford University highlights that EU citizens made up a majority of immigration and net migration in the run-up to the 2016 EU referendum. Since 2021, however, EU net migration has been negative, according to official estimates. In 2023, for example, it was -76,000.
Global international talent is now more available than EU talent.
Some I have spoken to believe that the funding scheme landscape remains too complex and under-promoted. Do enough people know and understand the variety of funding options open to them and are these accessible enough?
One positive is the UK’s return to Horizon Europe the EU research and innovation programme with a budget of €95.5 billion that runs until 2027. The UK agreed on a deal to associate with Horizon Europe on 7 September 2023. This is deemed highly valuable to sustaining academic research in the UK. UK researchers can now apply for Horizon Europe funding, certain that all successful UK applicants will be covered through the UK’s association (or through the guarantee) for the remainder of the program.
For Scotland, the good news is the view is that Scotland is a good place to grow a Photonics business. There is a strong ecosystem of Photonics companies and that is gaining a critical mass that is encouraging growth in the industry in Scotland. Having two of the Quantum Hubs based in Scotland is extremely positive news as well and demonstrates the strength and recognition of the ecosystem here.
The view from Europe also seems to be that the UK is the ideal platform to link with the US, common language and special relationship is a strength.
Despite macro-economic elements such as the recent disappointing US jobs report and depressed stock market reaction to tech stocks, from a recruiting viewpoint, the 2nd half of 2024 is projected to be busy and active with numerous companies that I have spoken to planning to increase headcount in the next 6 months.
Enigma People Solutions is an award-winning technology recruitment consultancy. We find technical leaders for the emerging and enabling technology industries. Visit our services page for more information. Visit our job search page for the latest vacancies in photonics, electronics, semiconductors, software, and IoT in Scotland and the UK. Check out our blog page for the latest in the technology industry. You can get in touch with us hello@enigmapeople.com or call us on + 44 131 510 8150
Enigma People Solutions is an award-winning technology recruitment consultancy. We find technical leaders for the emerging and enabling technology industries. Visit our services page for more information. Visit our job search page for the latest vacancies in photonics, electronics, semiconductor, software and IoT in Scotland and the UK. Check out our blog page for the latest in the technology industry. You can get in touch with us hello@enigmapeople.com or call us on + 44 131 510 8150