Major technology firms including Google, Fujitsu and HP have given their backing to StartUp Britain, an initiative designed to help startup firms achieve their potential and foster growth in the economy.
StartUp Britain was announced during the Budget by George Osborne and is designed to offer help, support and advice for entrepreneurs looking to launch new projects.
Prime minister David Cameron urged those thinking of setting up their own business to use the scheme as a springboard.
"If you've been turning over a good idea for years, now is the time to make something of it. If you're working for a big firm but know you could do a better job on your own, now is the time to make the leap," he said.
The technology sector in particular is seen as a key driver for the economy, and the backing of major technology firms will no doubt please Cameron as he seeks to establish a Silicon Valley mentality in the UK.
Many of the companies providing support have also offered deals for those who use StartUp Britain. Google is providing £30 worth of AdWords, O2 is offering one-month line rental and HP is offering 10 per cent discounts on purchases.
RIM and PayPal are also offering deals, while Fujitsu is providing a free 30-day trial of its cloud services and 10 per cent off the bill for any startup for the first 12 months.
Simon Carter, director of government marketing for Fujitsu, said that the cloud is just one new technology that could help innovative companies succeed by offering more flexibility when purchasing services.
"The beauty of a cloud model is that it becomes a day-to-day operating expense, rather than a capital one, making it easier to flex and manage financially as the business changes and grows," he said.
"What is so exciting about this new wave of technology is that IT becomes an enabler for businesses of all shapes and sizes, old or new, to compete on a fair and equitable level."
The launch of StartUp Britain goes hand in hand with a number of Budget announcements designed to foster growth.
These include a removal of all domestic regulations for three years on businesses with 10 employees or fewer, and the creation of 21 enterprise zones that will offer reduced businesses rates and superfast broadband connections.
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