Is the UK still a leading source of tech innovation?

Britain has burgeoning start-up scenes, but what challenges do they face?

What will change after the General Election?

With technological innovation and new start ups so important to the future of the UK, the general election could have a huge impact on where the industry is headed.

There is, however, optimism to be had, with all parties apparently keen on capitalising on the country's existing position.

TechHub's Varley says: "It's clear that all parties are keen to get the support of the UK start-up community. The Conservatives have vowed to make Britain the technology centre of Europe by but we believe London is already the clear technology centre of Europe and one of the most important in the world.

"A booming tech start-up community already exists in the UK. To enable these start-ups to grow, the next government needs to help enable old institutions like banks to work with early-stage companies that are inherently riskier propositions."

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In addition to working to close the skills gap, each party's manifesto outlined various ways in which they would help the UK tech industry to thrive.

This included tripling the Start Up Loans programme for 75,000 entrpeneurs and upping hte Annual Investment Allowance to 500,000 from the Tories, giving small businesses tax cuts from Labour and doubling innovation spending with a focus on digital industries from the Lib Dems.

"The incoming government will have a crucial role to play in ensuring not only that the UK's tech sector maintains its positive momentum, but must support and create an environment where technology is deployed in the UK and that the economic benefits of advanced informed use spread from supplier to user," adds SAP's Kanter.

"The Internet of Things (IoT) is a good example; while the right sounds about the future have been made, much more could be done to influence the here and now," she claims, pointing to the importance of business models over regulatory issues.

Law firm Wragge Lawrence Graham & Co's lawyer, Richard Goold, believes any incoming government would build on the tech industry's existing momentum as a way to create more jobs.

He says: "The government is predicting that within the next decade, close to 50,000 new jobs will be created in London alone and that the tech industry will be larger in the capital than the financial services industry."

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Despite positive rumblings, grand promises are not always fulfilled once the election is over, while short term investment also doesn't guarantee long term results.

Citrix's Jacqueline de Rojas says: "All three of the main party manifestos last week professed a determination for the UK to become a leading source of global tech innovation, but to achieve this politicians must think long term, rather than looking into quick fixes and announcing large one-off investments."

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