Ian Pearson, Science and Innovation minister, has praised UK industry for making great
advances in innovation in the last decade but feels UK business is at risk of losing out to international competitors.
In his speech to the UK Technology Innovation and Growth forum, he said “We must unlock the talent and become an innovation nation.”
In becoming a cradle of invention UK business needs to tap into the great ideas that come out of the university system - renowned for strength in depth in the R&D field.
Colin Tenwick, CEO of software firm StepStone, expressed the problem as being one of how risk averse UK companies become once they move beyond the start-up phase and saw this as “Fundamentally different to what happens in the US.”
The minister said some of the solution lay in improving access to venture capital.
Like all good comedy, the secret is timing.
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