COMMENT We’re in the midst of a new industrial revolution. Technologies from AI to mRNA and blockchain to fusion are revolutionising the way we work. From finding a cure for cancer to dealing with an increase in the frequency and magnitude of extreme weather events, it’s clear that the businesses of the future are going to be based on science and technology – the question is, how can the UK lead the way?
The Science Superpower conference in Westminster brought innovators, policy experts and placemakers together to consider this question.
Prize innovation as much as invention
The UK is world-class when it comes to ideas – we produce more scientific papers per capita than the US, for example, and Oxford University sits top for the number of spin-outs it produces. But we underperform in terms of too few patents, investments and unicorn companies.
Across the Oxford-Cambridge Arc we have the potential to improve this, but no one organisation, university or city can do it on their own. We must collaborate. The development of the Oxford/AstraZeneca vaccine during the pandemic in a matter of weeks is a great example of what can be achieved when we come together.
Scientific and technological advances are increasingly demanding a cooperative ecosystem and will ensure we bring more venture capital into the UK. It was encouraging to hear that Oxford University has recently secured over £7m of funding from UKRI to help researchers unlock the value of their work, including early-stage commercialisation of new technologies and advancing changes to public policy and services such as NHS clinical practice.
One small contribution we’re making as ARC is offering top-class leadership training for leaders from young, fast-growing organisations, helping them to scale sustainably with the right culture and business acumen. Too often a science start-up’s growth is thwarted by poor commercial knowledge.
Consciously create clusters
Critical mass within a cluster is crucial, as it provides connectivity and optionality for knowledge exchange, improved commercial capability and a greater pool of talent. It gives people the confidence to take risks, from people moving their family for a new role to encouraging overseas investment into UK start-ups.
We’re seeing improved connectivity across sectors, leading to technology designed for one sector inspiring breakthroughs in another, something we have pioneered at Harwell. Our cross-cluster approach has created environments where perspectives, notions and methods can be exchanged across traditional divides. For example, X-ray capability developed for space has been used to improve cancer detection rates on earth, showing how the tech sector is the playing an increasing role in the growth of the life sciences sector.
And these changes in how organisations collaborate are inevitably having implications for real estate requirements. Whether it be 3D printing, revolutionising the potential of medical devices or the rise in quantum computing in drug development, we’re seeing some lab space scaled down in favour of another type, and the location and characteristics of assets are playing a growing role too.
Make places that work
Too often our science environments are one-speed, and we need to fix this. Moderna was a loss-making small business in 2019 and now it’s expanding around the world at incredible pace. Creating the right environment for innovation is key, as some of the world’s most revolutionary ideas have come from sideline conversations or passing comments. You must first create a better environment for innovation so that innovation can change the world.
Organisations are having to work harder to create places that people want to come back to for work. It’s important to focus not just on the office space but the environment and amenities to improve people’s quality of life at work. By providing places for people to informally network, and green spaces to exercise or play sport, you create better networks between the organisations that occupy the space, so that people who would otherwise never meet have the opportunity to interact.
I left the conference inspired by the quality of work happening across the UK, and the possibility that if we get our approach right over the next 10 years, then we can transform the economy and ultimately our lives for the better.
Stuart Grant is chief executive of ARC
