{"id":49943,"date":"2024-08-07T15:20:09","date_gmt":"2024-08-07T14:20:09","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=49943"},"modified":"2024-08-07T15:20:09","modified_gmt":"2024-08-07T14:20:09","slug":"uk-urged-to-strengthen-innovation-to-close-the-global-gap","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/uk-urged-to-strengthen-innovation-to-close-the-global-gap\/49943\/","title":{"rendered":"UK urged to strengthen innovation to close the global gap"},"content":{"rendered":"<h2>New data highlights the UK government&#8217;s need for an IP strategy to strengthen innovation and increase competition with world leaders.<\/h2>\n<p>A <a href=\"https:\/\/sourceadvisors.co.uk\/insights\/our-research\/a-focus-on-key-technologies-how-does-the-uk-compare-to-other-global-leaders\/\" target=\"_blank\" rel=\"noopener\">new report has revealed that the UK ranks in the top ten globally for innovation<\/a> in three key technology areas: automotive, AI, and telecoms. However, it trails behind global leaders, indicating that the UK government needs to do more to close the gap with leading nations.<\/p>\n<p>Data is published as the new Labour government targets growth through public and private investment in science and technology.<\/p>\n<p>The industry has called for the UK to have its own intellectual property strategy to support growth and strengthen innovation.<\/p>\n<p>Implementing such measures will be crucial for the UK if it wants to become a global leader.<\/p>\n<h3>Which areas is the UK falling short in?<\/h3>\n<p>The report, created by IP specialists and R&amp;D tax credit experts Source Advisors, analyses the volume of innovative output from the UK compared to other territories for the three key areas.<\/p>\n<p>According to the figures, China and the US continue to dominate the rankings, representing over 50% of all patent filings in each technology area.<\/p>\n<p>The UK currently ranks 9<sup>th<\/sup> for automotive patents and 8<sup>th<\/sup> for both telecoms and AI, highlighting the need to strengthen innovation in these areas.<\/p>\n<p>The data revealed that the UK filed 2.01% of global automotive patents in the past decade. This is four times lower than in close neighbour Germany and three times lower than in the European Patent Office.<\/p>\n<p>The UK also falls short in the telecoms sector, where it filed 1.85% of global telecoms patents. Germany has filed more than double the number of telecom patents since 2010.<\/p>\n<p>The US, which is a world leader in this space, has seen 18 times more telecom innovation than the UK.<\/p>\n<h3>The new government must pledge to strengthen innovation<\/h3>\n<p>Following <a href=\"https:\/\/www.innovationnewsnetwork.com\/general-election-2024-what-labour-landslide-victory-means-for-ai\/49013\/\">Labour\u2019s General Election win last month<\/a>, the experts have called on the new government to strengthen innovation with new discussions and policies.<\/p>\n<p>Luke Hamm, Managing Director at Source Advisors, stated: \u201cNow the election is over, and the new government gets down to business, the headline-grabbing commitment to economic growth now must take shape in actual policy.<\/p>\n<p>\u201cThere are choices to be made regarding what we want to be famous for and how the legal and regulatory framework complements this, as well as fiscal incentives, which will drive greater levels of investment.\u201d<\/p>\n<p>Akshay Thaman, IP Consultant &amp; Policy Lead, commented: \u201cThis research shows that the UK sits at the lower end of the top ten for patents filed in the automotive, telecoms and AI industries. Ultimately, it highlights the level of work needed by the incoming government to position the UK to truly compete on the world stage.\u201d<\/p>\n<p>He added: \u201cNow, funding routes such as the R&amp;D tax relief regime, grant funding and private investment are all crucial to driving growth and strengthening innovation.<\/p>\n<p>\u201cHowever, we ask the incoming government to carefully consider the importance of intellectual property awareness, protection and commercialisation as a key lever to driving growth.<\/p>\n<p>\u201cOther comparative nations are clearly ahead of the UK in doing this. Perhaps it\u2019s time for the UK to have its own intellectual property strategy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New data highlights the UK government&#8217;s need for an IP strategy to strengthen innovation and increase competition with world leaders.<\/p>\n","protected":false},"author":22,"featured_media":49944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24429],"tags":[24137],"acf":[],"yoast_head":"\n<title>UK urged to strengthen innovation to close the global gap<\/title>\n<meta name=\"description\" content=\"New data highlights the UK government&#039;s need for an IP strategy to strengthen innovation and increase competition with world leaders.\" \/>\n<meta name=\"robots\" content=\"index, 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