The Government should do more to encourage innovation and entrepreneurship in the UK’s technology sector, claims Simon Walker, chief executive of the British Private Equity and Venture Capital Association (BVCA).
The Government should do more to encourage innovation and entrepreneurship in the UK’s technology sector, claims Simon Walker, chief executive of the British Private Equity and Venture Capital Association (BVCA).
Walker, addressing the audience of the BVCA’s technology spinout conference in London, commented that the need to support the UK’s science and research base has never been more apparent.
‘The BVCA has long campaigned for more government action to support entrepreneurs, foster innovation and grow small businesses,’ he added.
Lord Sainsbury, author of ‘Race to the Top’, a report commissioned by Prime Minister Gordon Brown to examine the state of science and innovation in the UK, stressed that innovation should be at the heart of the Government’s procurement function.
During 2006 – 2007 universities generated 187 new spinouts and earned £595 million of income from collaborative research and £236 million from consultancy.
