"The UK government does not have a great record when it comes to investing in national IT champions, with historical examples showing that even significant investments have led to companies losing UK ownership."
"In the 1960s and 1970s, the government ran the National Enterprise Board which provided funding to new technology companies, but notable companies like ICL and Inmos eventually became part of foreign corporations."
"Currently, a £500 million investment could secure a 5% stake in the French AI startup Mistral, which has achieved its success by offering a European alternative for businesses that do not want to use American or Chinese AI providers."
The UK government has a poor track record in investing in national IT champions, with historical examples showing that even significant investments have led to companies losing UK ownership. The National Enterprise Board, active in the 1960s and 1970s, aimed to support technology firms, but notable companies like ICL and Inmos eventually became part of foreign corporations. Currently, a £500 million investment could secure a 5% stake in the French AI startup Mistral, which offers an alternative to American and Chinese AI providers.
Read at Computerworld
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