There exists the concept of a valley of death that prevents the progress of science from the laboratory bench to the point where it provides the basis of a commercially successful business or product. The future success of the UK economy has been linked to the success of translating a world class science base to generate new businesses with the consequent generation of UK jobs and wealth. A troubling feature of technology companies in the UK is how many are acquired by foreign owners where the subsequent jobs and wealth are generated outside the UK. It is key that the Government ensure that sufficient capital is available and recommended that the proposed bank for business, possibly in partnership with the Business Growth Fund, be used to promote a bond market for medium sized businesses, thus providing growing small businesses with an additional source of funding. It is also recommended that the Government investigate the potential to require funds to have a proportion of European SME equities. There needs to be a mechanism to support SME's who do disproportionately badly from the current RaD tax credit scheme. The Technology Strategy Board is becoming the focus for government innovation policy and Government should consider how they can resource the TSB to provide local level advice to technology businesses. The Small Business Research Initiative (SBRI) and the SMART Award scheme would appear to be successful initiatives but lack sufficient funds to meet the demand from companiesImproving the Commercialisation of Research, Eighth Report of Session 2012-13 , Report, Together with Formal Minutes, Oral ... The key government support for companies investing in research and development is the Raamp;D tax credit whichanbsp;...
|Title||:||Bridging the Valley of Death|
|Author||:||Great Britain: Parliament: House of Commons: Science and Technology Committee|
|Publisher||:||The Stationery Office - 2013-03-13|