📢 It's great to see the Department for Science, Innovation and Technology launch the new Regulatory Innovation Office today - something we've long campaigned for at Form Ventures through our #fixtheregulators campaign (recap: fixtheregulators.com). But.... 🚨... as my colleague Andrew Bennett told the Financial Times this morning (👇), the RIO will only make the impact we need if it has two key ingredients: political backing - proper ministerial and PM-level buy-in; and financial backing from HMT. It remains to be seen if we have either, both, or neither. 🧪 One other point: the focus on novel tech is great, and important, but regulation can be an enabler of innovation across existing regulated markets too, where tech is moving the frontier of what's possible - and if anything, the quicker political and growth wins are found here.
I am looking forward to seeing the scope expanding after the sandbox period.
Awesome news.
Founding Partner at Form Ventures
5moThe full FT piece here: https://on.ft.com/3zTl7iv