Ministers need Musk to attend flagship funding summit | Enterprise Information

The federal government is courting Elon Musk, the Tesla billionaire and proprietor of the social media platform previously often known as Twitter, to attend a flagship enterprise summit within the autumn as they search to bolster Britain’s declare to be a number one magnet for abroad funding.

Sky Information has learnt that Rishi Sunak’s administration is eager to safe the attendance of Mr Musk on the World Funding Summit (GIS) in late November.

Whitehall sources recommended Amazon founder Jeff Bezos was additionally prone to be invited.

It was unclear on Tuesday whether or not a proper invitation had been issued but to both man, though different main buyers within the British financial system have informed Sky Information that they’ve already been requested to attend on 29 November.

The federal government claims the inaugural GIS, held in October 2021, secured £9.7bn of recent international funding, creating over 30,000 new jobs “and supporting progress in important sectors comparable to wind and hydrogen power, sustainable properties, and carbon seize and storage”.

Invoice Gates, the Microsoft founder, and Jamie Dimon, chairman and CEO of JP Morgan Chase, had been amongst those that attended the 2021 occasion.

One authorities official mentioned there was a specific need to steer Mr Musk to attend this yr due to the maverick entrepreneur’s conferences earlier this yr with French President Emmanuel Macron to debate potential Tesla investments within the nation.

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A spokesman for the Division for Enterprise and Commerce declined to touch upon particular person delegates however mentioned: “We look ahead to welcoming round 200 CEOs and the world’s A-list buyers to the second World Funding Summit in November, to showcase why the UK is a prime vacation spot for worldwide funding.

“Hosted by the PM and Enterprise and Commerce Secretary [Kemi Badenoch], attendees will hear first-hand how the federal government intends to construct upon the aggressive enterprise surroundings that makes the UK one of many world’s most tasty funding locations. 

“The Summit will drive funding into all corners of the UK, creating actual advantages for native companies and communities together with financial progress and jobs.”

Initially slated for October, the summit was delayed by a number of weeks because of scheduling points.

Sources say it is going to be held at a “historic location” near central London.

They added this yr’s occasion would goal to spotlight British successes in areas together with life sciences, deep tech, nuclear fusion and small modular reactors.

It will additionally search to exhibit that capital funding in Britain was being unlocked by post-Brexit monetary liberalisation measures included within the ‘Edinburgh reforms’ outlined by the chancellor, Jeremy Hunt, earlier this yr.

The occasion will likely be held throughout a fragile interval for perceptions of the UK as an funding vacation spot, with automotive producers together with the Vauxhall-owner Stellantis having just lately warned of potential manufacturing facility closures due to post-Brexit guidelines.

Sir James Dyson, the founding father of the eponymous electrical items model, has been an outspoken critic of presidency coverage, warning that the ambition of changing into a science and know-how superpower had been lowered “to a political slogan”.