2 November, 2012 - 16:38 By Tony Quested

Cambridge technology entrepreneurs disillusioned

A Cambridge UK entrepreneur emailed me recently to say he was living a hand to mouth existence as what appears to be an excellent clean technology continues to struggle to gain traction with investors. He didn’t know where to turn.

He was on subsistence level. Another clean technology CEO contacted me to say he wished the company had gone to the US because the UK clearly failed to appreciate the technology set in front of them.

What had they done wrong, they agonised?

By 2016, welfare payments in the UK will cost the public purse £230 billion out of a total Treasury outlay of £709bn, according to Chancellor, George Osborne.

So where are the Tech Welfare benefits? Subsidies for people contributing to society and the economy rather than draining its resources?

Technology entrepreneurs are not leeches on society: they are catalysts for social and economic gain. But they get scant support.

Would these technology entrepreneurs be better off throwing themselves on the mercy of the benefits system and swapping innovation for indolence?

It’s time the UK Government paid more than lip service to enterprise and entrepreneurship.

Graduates are pouring out of Cambridge University with a fresh faced enthusiasm to succeed in business. How deluded are they?

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