Business secretary Grant Shapps has said he plans to make the UK country a better place for startups to scale up and that the UK can “learn from the mistakes” of Silicon Valley. Speaking in Davos, Switzerland, at the World Economic Forum, Shapps outlined his vision to launch a “Scale-up Summit” for those within the finance and technology markets. “What we must do better is convert startups to scaleups. I want to inspire ‘Scale-up Britain’. Building businesses that don’t just develop in the UK, but stay to grow and mature into world-beaters,” said Shapps. Shapps said he believes that the UK is better positioned to secure investment post-Brexit. He said the UK tech scale-up ecosystem could become akin to Silicon Valley, but believes the UK can “learn from the mistakes it has made”.
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