The UK risks squandering its most valuable industrial assets unless the government acts swiftly to increase support for homegrown HardTech and DeepTech businesses, senior industry figures have warned.
Speaking at the inaugural Bessemer Society Summit in London, Sir Warren East, (pictured) former CEO of both Rolls-Royce and Arm, and Dame Anne Glover, CEO of Amadeus Capital Partners, urged ministers to boost investment and overhaul tax rules to help British companies scale and stay onshore.
The event brought together more than 150 leading industrialists, founders, investors and policymakers for the first time, with a focus on what the UK must do to remain competitive in sectors critical to energy security, defence, and economic growth.
Named after Sir Henry Bessemer, the inventor who revolutionised steel manufacturing, the Society’s members have raised more than $2 billion since the pandemic. But speakers at the event warned that without urgent reforms, more of Britain’s most promising technology companies could be lost to overseas buyers.
Among the strongest calls for reform came from Steve Lindsey, founder of engineering firm SFL.Technology, who criticised the current tax environment for favouring foreign investment.
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