Nesta says 4G windfall must be invested in tech
Earnings from the sale of 4G super-fast mobile broadband spectrum must be reinvested in new technologies, according to independent innovation charity Nesta.
The government is expected to earn as much as £4 billion by selling the additional spectrum required by the likes of O2, Vodafone and 3 Mobile to support the rollout of 4G networks.
Only Everything Everywhere already has enough capacity, allowing the operator to launch the UK's first 4G mobile broadband service on Tuesday (October 30th 2012).
Geoff Mulgan, Nesta's chief executive, said the anticipated 4G windfall is set to come about as a result of past investments in technology and science.
"Although there are many worthy current claims for funding, the case for reinvesting the proceeds into new technologies, science and innovation is compelling," he stated.
Mr Mulgan went on to argue that the way the money is invested will illustrate whether the UK is ambitious enough to keep pushing technological boundaries in the future.
His comments come as part of the 4Growth campaign, which is calling for the Conservative-led coalition to ensure takings from the sale of 4G spectrum are used to the benefit of the economy.
The likes of celebrity physicist Brian Cox and Nobel laureate Andre Geim are also supporting the scheme.