The Council for Science and Technology (CST) has written to the Prime Minister, offering advice on how to encourage scale-up investment in innovative science and technology companies. This advice focuses on cultural, behavioural, and structural changes aimed at unlocking such investment.
This follows earlier engagement, including a letter sent in September 2021 exploring how the government could encourage this type of investment. In October 2022, CST provided further advice to the Prime Minister on increasing finance availability for innovative companies to grow and scale up within the UK, building on measures from the Growth Plan 2022.
New recommendations from CST include the targeted use of public procurement, fellowships to increase the number of science and technology specialist investors, and reviewing measures to support corporate venturing in national priority areas. The Prime Minister and the Secretary of State for the Department for Science, Innovation and Technology responded to CST advice in June 2023, following discussions on the Science and Technology Framework.