United Kingdom New British Technology Regulator 2024
On October 8, 2024, the UK Labour Government established the Regulatory Innovation Office (RIO), following through on a pledge it made the year before. The goal for the new regulation body is to eliminate red tape that prevents critical emerging technologies (CET) from being easily accessible to the public. For the time being, the UK government is focusing on fast-tracking new innovation in biotech and drone delivery systems. Particular attention will be paid to fast-tracking clinical trial applications that are currently in a backlog and preventing life-saving care from being delivered to patients nationally and internationally.
While the government has recognized the importance of regulation for new technology across all sectors, excessive regulations have led to a backlog of appeals and applications. The Medicines and Healthcare products Regulatory Agency reported a backlog of 1,000 clinical trial applications in 2024 alone.
In a press release from the Department for Science, Innovation and Technology, the government highlighted that areas of particular importance to the RIO will be:
- Engineering Biology – including bio medtech, cell-based meat, genetically modified crops
- Artificial Intelligence and Digital in Healthcare – including medtech, disease detection, increased productivity, lower wait times, administrative abilities
- Connected and Autonomous Technology – drones, self-driving vehicles, emergency delivery capabilities
- Space – GPS, communication systems, weather forecasting abilities
This new regulatory body presents potential opportunities for U.S. companies with expertise in CET. U.S. companies have a worldwide reputation for innovative products, after-sales service and training which makes them competitive in the UK market.
To read the announcement click here for more details.
For more information contact Claudia.Colombo@trade.gov.