Skyrora CEO Urges UK Government to Prioritize Space Sector
The announcement of a general election in the UK has caused a stir in the business world, particularly in the space sector. With the possibility of a Labour government, this election could have a significant impact on the country’s tech startup ecosystem. The timing of the announcement has surprised many, as recent trends suggested that Keir Starmer of the Labour Party would become the next Prime Minister.
The upcoming election has raised questions about its potential effects on the space sector. Both Labour and the Conservatives will be competing for the crucial business vote, and UK businesses are looking for progress and commitment from the government. A pre-election survey of small businesses showed that the majority of business owners (58%) were optimistic about the impact of a change in government, while only a small fraction (9%) held a negative view. These perspectives could influence the outcome of the election.
Volodymyr Levykin, CEO and Founder of Skyrora, shared his insights on the potential impact of the general election on the tech startup ecosystem. Levykin emphasized the importance of investment in the space sector, stating that it should be a priority for any government. He highlighted the need for support from both public and private sectors to ensure that the UK becomes a world leader in space. Levykin believes that unlocking space is crucial for a thriving economy and plays a vital role in national defense capabilities.
The relationship between Prime Minister Rishi Sunak and the tech sector has been generally positive. The formation of a dedicated science and technology department in February 2023 was widely praised. The government’s role in HSBC’s rescue of Silicon Valley Bank UK also demonstrated its support for the startup-focused bank. Additionally, the government’s AI Safety Summit held at Bletchley Park was considered a diplomatic success, although it lacked concrete commitments.
However, there is growing concern that the tech sector’s voice is not always being heard. Recent changes to the R&D tax credit system faced backlash, and the government had to reverse its decision to raise the income threshold for angel investors, which disproportionately affected women. Efforts to curb legal migration have also raised concerns about the tech sector’s ability to attract top talent.
As the UK gears up for the general election, the space sector is hoping for a government that prioritizes its growth and development. With the potential for a change in government, businesses in this sector are optimistic about the future. The outcome of the election will have a significant impact on the tech startup ecosystem and could shape the UK’s position as a leader in space exploration and innovation.
