ONE thing this country has been good at since the dawn of the Industrial Revolution is innovation. But latterly we have not been especially good at marketing and manufacturing the fruits of this genius. The short-termism of governments, the decline of science teaching and a bureaucracy ill-designed to encourage new ideas and risk-taking have worked to our disadvantage.
These are familiar complaints; and a review commissioned by the government from Andrew Witty, the CE of GlaxoSmithKline, has found that they have not gone away. Witty’s call for greater flexibility is therefore sensible and achievable. He argues that funding should follow promising technology, but that this requires greater collaboration between business, universities and government agencies. Also, universities should be rewarded for their economic effect and Whitehall should facilitate genuine breakthrough technology, without picking winners.
London, October 15
Picture: THINKSTOCK
ONE thing this country has been good at since the dawn of the Industrial Revolution is innovation. But latterly we have not been especially good at marketing and manufacturing the fruits of this genius. The short-termism of governments, the decline of science teaching and a bureaucracy ill-designed to encourage new ideas and risk-taking have worked to our disadvantage.
These are familiar complaints; and a review commissioned by the government from Andrew Witty, the CE of GlaxoSmithKline, has found that they have not gone away. Witty’s call for greater flexibility is therefore sensible and achievable. He argues that funding should follow promising technology, but that this requires greater collaboration between business, universities and government agencies. Also, universities should be rewarded for their economic effect and Whitehall should facilitate genuine breakthrough technology, without picking winners.
London, October 15
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