Does the UK fund research enough and encourage innovation?
The government spends as much as it can afford to on research. The question is how to divide this amount between fundamental research and innovation promotion, which, as it approaches application, is far more expensive. The answer is there is never enough money for innovation, and this is where industry can play a part. However, we must always ensure that we have enough for fundamental research – to not do so would be detrimental to the future of all technology-based industries. We neglect this area at our peril. Is the UK well placed to compete internationally with countries such as China and India? As long as we fund teaching and research, which turns out good graduates and postgraduates, then on a science knowledge base, yes. What we can’t compete is on manpower. Does the industry attract enough new blood? The industry has lost a lot of graduates to competition from finance and banking. The main reason is pay, but I believe many are unaware of the benefits of a career in industry –
