Science Minister David Willetts welcomes closer trade links with Massachusetts – one of the top tech hubs in the US.

The Minister met with the Massachusetts Governor Deval Patrick yesterday following a three-day trade mission to the UK with a 20-strong business delegation – including many technology companies.

The Minister said:

“Innovation and technology are vital to future economic growth, and we need to do everything we can to take Britain on the right path to a high-tech future.

“I am pleased to welcome the Governor to the UK – Massachusetts has the second largest technology hub outside California’s Silicon Valley and is an important partner for Tech City in East London.

“There are already around 200 technology companies based in Shoreditch and we are determined to build on this. I hope this visit will help us share knowledge about supporting growth in this important sector, and lead to stronger ties between Tech City and Massachusetts.”

The Government announced last year its blueprint for technology – this includes plans to
develop Tech City in East London. East London is already home to one of the largest concentrations of small fast-growing digital technology companies in Europe.

Earlier this year US company Cisco announced plans to invest up to $500million which includes the development of two Innovation Centres – one in Shoreditch and one at the Olympic Park. UK Trade & Investment has formed the Tech City Investment Organisation led by leading technology entrepreneurs to help boost investment and growth in Tech City.

The UK’s ICT sector is one of the most vibrant in the world, employing more than a million people and contributing more than £66.4billion to the UK economy. That is why the Government is also investing £200million for Technology and Innovation Centres over the next four years. These will work in partnership with universities and businesses to help commercialise the results of research in specific technology areas where there are potential multi-billion pound global markets.

Factfile:

• 225 UK-owned companies in the state of Massachusetts employ 40,100 Massachusetts residents.

• The ICT sector in the UK is the largest in Europe and employs more than onemillion people.

• London’s Tech City has grown from some 15 technology companies in 2008 to around 200 today.

Media contact:
For more information, please contact Helen Cook in UKTI Press Office on 0207215 8473 or email: [email protected]

Notes to editors:
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