Investment in the sector has been growing according to industry survey and is projected to increase over next five years
London, UK, 13 October 2020 – The continued strong interest and engagement from the investment community in the UK’s independent network sector must be sustained if the UK wants achieve status as a gigabit nation, the Independent Networks Co-operative Association said today.
A Point Topic report commissioned by INCA shows over £1.76 billion* worth of private funding related to the independent sector** was announced between the start of 2019 and September 2020. These figures are on top of an estimated £5.7 billion of private investment-related announcements already made in the sector, bringing the total to over £7.6 billion. INCA CEO Malcolm Corbett welcomed the figures but warned against letting the momentum slow.
“This level of investment is really healthy for the industry and reflects how important the challenger networks are in keeping Britain connected. It also shows that the independent sector is playing a decisive role in getting as close to the government’s 2025 gigabit coverage target as possible,” said Mr Corbett.
“To ensure that this momentum builds, it’s crucial that these operators are supported, particularly in rural areas, ensuring that the Government’s Outside-In funding policy succeeds and that all communities benefit from new digital infrastructure,” he continued.
INCA’s member operators have participated in a round of webinars with Government officials to discuss the rural funding programme. They are also engaging with the regulator Ofcom to ensure their investment, particularly in rural areas, is recognised in the latest market review of the telecoms sector.
“The feedback we’ve had from our members during the webinars is that reaching the 2025 target requires more than just funding. What is just as important is having access to skilled workforce, a competitive market that includes challenger operators, and directing investment at areas that need it most. These issues will be discussed at our Annual Conference – The Road Ahead to 2025 on November 3rd with those responsible for defining telecom policy, such as Matt Warman MP, a minister at the Department for Digital, Culture, Media and Sport,” added Mr Corbett.
For more information about INCA, please visit: https://www.inca.coop/
Notes to editors
*Please note that these figures do not cover the entire sector.
**The independent sector includes operators other than BT and Virgin Media
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The Independent Networks Co-operative Association (INCA), was established in 2010 as a co-operative trade association for next generation broadband services. INCA brings together the most innovative thinkers in the independent alternative network sector, creating new digital infrastructure in the UK and Ireland. For more information about INCA, please visit: https://www.inca.coop/
James Page, Proactive PR. [email protected] or 07824 152 086.
Syndicated from https://www.realwire.com/releases/Investment-momentum-in-UKs-challenger-networks-crucial-to-Gigabit-Britain