The Government has pledged £114m to make the UK the fastest place in Europe in terms of broadband by 2015.
The money is to be used to build city-wide networks, offering homes and businesses speeds of up to 100Mbps. London will receive the largest chunk of £25m, with Leeds and Bradford receiving £14.4m between them. Belfast, Manchester, Bristol, Cardiff, Edinburgh, Birmingham and Newcastle will each receive substantial payments, and a further £50m is to be awarded to 10 smaller cities.
UK tech entrepreneur Dan Wagner, who has built four multi-million pound global tech companies and recently launched a new service to take payments for their services on mobile phones, said: ‘Anything that helps set the right conditions for UK entrepreneurs to start new tech businesses is to be welcomed. The UK is a hotbed of entrepreneurial spirit, but I know from my own experience that this is simply not enough to succeed. Much more could be done to help entrepreneurs and start-up businesses, in particular in the tech field.
‘The UK tech sector has huge potential to lead us out of recession and back into growth, generating income for entrepreneurs and their staff, and tax revenue. A flourishing tech sector will have an enormous knock-on effect on the supply chain and the economy generally. We could be tech world leaders, yet so many viable businesses fail to get beyond the initial stages.’
He added: ‘Fast broadband is certainly an excellent basis on which to roll out new ventures with the widest possible reach, and also has the potential to help increase ecommerce and economic activity. However, there is far more we could do to help tech businesses to grow and prosper, from changes to the tax system, and releasing start-up capital, to a host of other measures.’
Editor: Shujaul Azam