Former Arm CEO criticizes Britain’s poor global tech commercialization efforts
The United Kingdom is facing challenges in commercializing technology businesses globally, according to Warren East, the former CEO of British chip design company Arm. Speaking at Cambridge Tech Week, East highlighted the need for a mindset shift in the investor community to help British firms succeed on the world stage. He expressed concerns about lackluster growth and poor GDP per head in the UK, noting that successful companies often relocate or list abroad due to difficulties in achieving global relevance from the country.
East emphasized the potential of UK-based innovative technology but acknowledged the struggle to realize global businesses from these promising innovations. He emphasized the importance of getting commercialization right and encouraging more risk appetite to support high-growth tech firms in the UK. East recognized the deeper pools of capital in the US, with higher investor risk appetite, and called for changes in capital market rules to stimulate risk appetite and attract more investments from pension funds into startups.
Last year, Arm, known for its chip architectures in smartphone processors, listed on the Nasdaq in the US, a move that highlighted the challenges faced by tech companies in the UK. Despite these challenges, East remains optimistic about the future of British tech entrepreneurship and the potential for growth in the industry.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.