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A new golden era beckons for science and innovation

15 October 2019

International

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The UK is a long-established science superpower that continues to grow in appeal from cutting-edge innovations in computing to robotics and green energy, among other fields.

It’s a status recognised around the world - China included, another science powerhouse.

Take household name Huawei, for example, who last year alone boosted the UK economy by £1.7 billion through its economic activity. As part of its long-term commitment to the UK, Huawei recently made a small investment in Oxford Innovation Sciences (OSI), the University of Oxford’s venture capital fund helping scientists build and grow businesses that can improve the world.

It’s not just the giants of the technology world seeking collaborations.

Still in Oxford, and in a similar vein, Venturefest last month brought together innovators, investors and entrepreneurs. We were delighted to sponsor the event at Oxford Brookes University with a focus on inward investment and global growth in markets that included China.

In our session, we heard from investors from China about why technology developed in Oxfordshire is attracting interest and investment from China. We also heard from companies in Oxfordshire who have explored commercial opportunities in China. They shared their experiences with those considering a similar path.

You can sense a trend here. Oxford is a leading tech hub in the UK described as a productivity hotspot, but innovation is flourishing in all parts of the country - and prospects are about to get better still.

Also in September the UK Government announced a new two-year post-study work visa, meaning that talented students from China will be able to build successful careers in the UK. It will also open up opportunities for future breakthroughs in science, technology and research. In 2017-18, one third of all non-EU higher education students were from China - a total of 106,530.

The creation of a new fast-track visa route for scientists meanwhile, proposed by the UK Prime Minister, promises exciting prospects for Chinese talent and future partnerships between our two countries.

Designed to attract elite researchers and specialist in science, engineering and technology, the announcement was welcomed by industry. Quantum encryption business ArQit argued that it was crucial that scientific talent was welcomed around the world.

While Britain remains open for business, we recognise that the UK can be complicated to the uninitiated, from starting a company to relocating talent from overseas. At James Cowper Kreston we are only too happy to help Chinese businesses navigate these complexities, so that you can make the most of the science and innovation opportunity.

We are prepared to go the extra mile.

We were honoured to participate at the Digital Economy Summit in Zhengzhou in Henan recently. The four-day conference showcased the latest innovations in sectors such as big data, AI and VR. We left having signed a collaboration agreement witnessed by the Executive Governor of Henan Province.

For more information on opportunities in science and innovation sectors please contact us by submitting an enquiry.