A panel discussion explored ways to enhance the tech landscape in Norfolk and Suffolk, focusing on local industry potential and challenges.
- Norfolk and Suffolk have witnessed notable tech successes, yet continued growth demands overcoming political and institutional obstacles.
- Local universities’ role in fostering tech innovation was debated, with emphasis on the need for academia-business collaborations.
- The region’s political complexities, including a mix of political control, pose challenges to resource allocation and tech growth support.
- Experts suggest proactive self-funding strategies for startups amidst limited governmental support.
In a recent panel organised to discuss the advancement of the tech sector in Norfolk and Suffolk, experts examined existing industry achievements and explored avenues for future growth. The panel highlighted that, while a number of local companies, such as Epos Now and Developing Experts, have reached significant achievements, there remains substantial untapped potential. Joe Faulkner, a senior partner at KPMG, highlighted the possibility of notable future successes including new tech unicorns or initial public offerings (IPOs), which could bring a ‘halo effect’ to the region. He pointed out the necessity for scalable businesses capable of sustaining momentum, thereby fostering an environment of ‘confidence and swagger’.
A key discussion point at the panel was the role of universities in bolstering the tech industry. While Tim Robinson from Tech East acknowledged the pressure on higher education institutions, he stressed the importance of nurturing collaborations between academia and business to drive innovation. He noted a cultural reluctance towards spinouts within academic circles, suggesting that university leadership might perceive them as secondary to teaching and research. Despite potential hurdles, Robinson expressed optimism about efforts being made to bridge the gap between these sectors.
Political landscapes also featured prominently in the discussion. Norwich’s historical political alignment as a ‘red city in a blue county’ was cited by Tom Wood from Akcela as a hindrance to efficient resource allocation and decision-making. The panel collectively recognised the absence of devolved political structures in Norfolk and Suffolk as a disadvantage, particularly compared to regions with elected mayors that possess a stronger political voice. Yet, industry leaders urged entrepreneurs to seek alternative financing routes rather than rely solely on government aid. Developing Experts CEO Sarah Mintey encouraged founders to independently pursue funding and industry partnerships to catalyse their ventures.
In summary, the ongoing conversation among Norfolk and Suffolk’s tech stakeholders underscores both the promising growth prospects and the multifaceted challenges these regions face. The insights shared by experts provide a roadmap to navigate the political and institutional impediments that currently limit the tech sector’s full potential.
The path to technological advancement in Norfolk and Suffolk demands strategic collaboration, institutional support, and entrepreneurial initiative amidst prevailing challenges.
