UK to accelerate innovation with regulatory overhaul for faster product-to-market

"A year ago we launched our Modern Industrial Strategy with a clear ambition to back the sectors and businesses that will drive Britain’s future prosperity. But we must be honest about what is still holding us back. Too often, innovative businesses face a regulatory system that was not built for the digital age and cannot move at the pace modern innovation demands. The Regulating for Growth Bill changes that, giving businesses a faster route from idea to market and ensuring every part of government — from investment and procurement to skills, infrastructure and regulation — is aligned to create the conditions for success, helping cutting-edge firms throughout the country to start, scale and grow."

"We’ve been operating robots, fully uncrewed boats and lean-crewed ships at sea for a decade. We’ve overcome all of the technological challenges we’ve faced. But our success and our ability to continue to grow isn’t just a matter of technology. The role of people and regulation is just as important, probably more so. People have adapted and embraced the new jobs we’ve created, doing things that didn’t exist before. But regulation hasn’t moved as quickly. The first step towards fully commercial, safe and long-term sustainable use of robotics in the maritime industry is a practical and fast way to test and prove these systems safely in the real world. From there, if we get this right, the UK can build on its incredible heritage as a maritime nation to be the global leader, not just in developing the technology, but in actually putting it to work. These reforms are a fantastic step. They give companies like Ocean Infinity the confidence to continue to invest, scale and deliver real capability from the UK into the global market knowing there is the clear support and encouragement of government and the regulator."

"A year into the Industrial Strategy, investment is starting to flow and businesses are looking ahead to the opportunities that sector deals and regulatory reform can provide. Central to this is our ability to compete internationally, particularly in scaling innovation, where regulation, policy and technology are so intertwined. Actions set out in the Regulation Action Plan, notably on sandboxing and regulatory efficiency, show how the UK is starting to think more radically about the tools we have to deploy when attracting and retaining globally mobile investment."

"The UK is a nation of innovators. Harnessing our world-leading ideas and turning them into commercial successes requires an agile, pro-innovation regulatory regime. Today’s announcement on regulatory sandboxes is highly welcome. Done well, regulatory sandboxes will be a powerful tool to ensure our brilliant innovative businesses can test and take their ideas to market rapidly whilst protecting the public interest, ultimately benefitting consumers and the economy."