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1、|Innovation in Science and Technology1This report has been produced for information purposes only and may not be relied upon by any recipient.Your attention is drawn to the full disclaimer contained in this documentThe UK Business Case for ActionUK Industrial Strategy:Scaling and Commercializing UK

2、Science and TechnologyJuly 2023|Innovation in Science and Technology2IntroductionThe UK has a rich heritage in scientific discoveryand innovation,and can rightly continue to claim tobe a global leader in science-based industry:the UK punches above its weight in terms of scientific achievements;the U

3、K is 40%of total expenditure)Source:OECD GDP spend on R&D by country;OECD Government-financed R&D as proportion of GDP;Coadec R&D survey:January 2023|Innovation in Science and Technology12Market participants highlight that the UKs changing policy environment has hindered certain opportunities for lo

4、ng-term investment in the UK,affecting scale-up and development of the manufacturing baseA lack of stable UK policy is perceived as a risk for industry investmentThe UK has the opportunity to drive significant value from incentives and infrastructure commitmentsSome view that the UK risks becoming p

5、rogressively less attractive in key growth sectors of the future economy“While weve got great strengths and enormous potential to grow Life Sciences in this country,we are falling behind our global competitors”-Richard Torbett CEO ABPI,March 2023“Without bold and consistent action,one of the UKs maj

6、or success stories faces the prospect of a slow and lingering death”-Tony Blair Institute for Global Change,November 2022“Despite welcome steps and laudable rhetoric,we are concerned that the Government is not on course to meet its ambitions.Evidence of sustained focus,implementation and delivery is