Britain needs to reshape how it promotes scientific research, Lord Willetts tells SCI audience

The way the UK promotes innovation and research should be fundamentally altered to enable us to bring new technologies to market, according to former Science and Universities Minister Lord David Willetts.
He called for a network of new research institutes to capitalise on original research and bring new technologies to new markets, in a speech at SCI (the Society of Chemical Industry.)
He said the UK scores high in curiosity driven research taking place in universities, but is weak on funding the institutions that deliver applied research, which can then be commercialised.
And he said the Government should be prepared to bear the risk of applied research rather than depending on businesses to fund their own research.
“The fundamental responsibility of government is to bear risk, to take science from the laboratory to the market place. It is not the role of companies.”
He said it was vital that we achieve the more successful application of science, both in more innovative large companies and through successful start-ups and scale ups.
He contrasted US companies on the Fortune 500 lists, which were generally different from those 30-40 years ago, to those in Europe, which have virtually no new entrants.
Lord Willetts welcomed the Government’s recently published Industrial Strategy, and called for an expansion of the network of Catapult Institutes which have been founded by Innovate UK to connect businesses with the UK’s research and academic communities.
Introducing Lord Willetts, Sharon Todd, SCI Executive Director, said: “Following the Brexit vote, the UK needs to develop an Industrial Strategy that will deliver both long term economic value and societal benefit.
“The UK needs an Industrial Strategy that fosters science and innovation, funds research, recruits the best talent, and provides a competitive base for business.
“It needs to once more bring together scientists of all disciplines with entrepreneurs in an environment that enables invention and success.
“The Industrial Strategy should draw on the history and experiences of SCI and embrace the whole spectrum of industry, including infrastructure and energy, to rebalance the economy for long-term growth.”

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About Lord Willetts

The Rt Hon the Lord David Willetts is the former Minister for Universities and Science (2010-2014) and current Chair of the British Science Association (BSA), with a mandate to promote science as a fundamental part of the UK’s culture and society. On his appointment to Chair of the BSA, he was described by his predecessor as having been ‘proactive on everything from open access, science engagement, space, and science diplomacy. He’s a perfect example of how you can be passionate about science without a formal training, having become a regular at science festivals and conferences.’

He joined the Resolution Foundation, a non-partisan and award-winning think-tank that works to improve the living standards of those in Britain on low to middle incomes, as Executive Chair in June 2015. He also consults on global strategy for 2U, an educational technology company that partners with leading non-profit colleges and universities to offer online degree programs.

About SCI

SCI was established in 1881 to work at the interface between science and industry, conducting a range of activities that focus on supporting innovation and the commercialisation of science. It is an inclusive, multi-disciplinary and multi-science forum connecting scientists and business people. SCI promotes innovation and education via forums and networks which advance the commercial application of chemistry related sciences into business for public benefit.

SCI is a unique international forum which anyone can join to share and exchange information, ideas, innovations and research. Members have access to a growing network of member specialists from sectors as diverse as food and bio-renewables, water, environment, energy, materials and manufacturing and health and well-being.

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This release was published on openPR.