House of Lords Science and Technology Committee announce new inquiry into Financing and Scaling UK Science and Technology

House of Lords Science and Technology Committee launches new inquiry into Financing and Scaling UK Science and Technology: Innovation, Investment, Industry.  

The Committee will explore strategic questions around the UK's science and technology priorities; and the role of public sector investment, private sector investment, and governmental policy levers to help scale-up companies and translate basic research into applications that benefit the UK's public services, society, and economy. 

Lord Mair CBE, Chair of the House of Lords Science and Technology Committee said:  

“The UK has a fantastic science and technology research base and produces world-class research and innovation, but often struggles to translate this excellence into world-leading companies that stay here and grow here. The science and technology sector is facing new challenges from geopolitical and technological shifts, as well as a challenge to demonstrate improvements in the economy and people's lives as the UK tries to turn the corner on a long period of sluggish growth and declining living standards.  

“Our inquiry is aiming to investigate whether the UK has the right strategy to ensure that our brightest scientific ideas and technologies can scale and benefit the UK's economy and public services. We want to explore international comparisons, and the policy levers that the Government has at its disposal to try to fix the longstanding challenge of scaling technologies and companies here. Whether you're a researcher, entrepreneur, investor, scientist, policy expert, in academia, policy, or industry, we want to hear your insights on how the UK can better finance and scale science and technology to compete on the global stage.” 

The Committee invites written contributions to its inquiry from individuals and organisations including science policy experts, entrepreneurs, businesses, researchers, investors and research performing organisations by 11.59 pm on Friday 9 May 2025. 

The Committee will also hold the first public evidence session of its new inquiry on Tuesday 25 March hearing from science policy experts and think tanks. 

10:15am 

• Dr Richard Jones, Professor of Materials Physics and Innovation at University of Manchester 

• Dr Alicia Greated, Executive Director at Campaign for Science and Engineering (CaSE)  

11:15am 

• Jakob Mokander, Director of Science and Technology Policy at Tony Blair Institute  

• Julia Willemyns, Co-Director at UK Day One 

The evidence session will take place in Committee Room 3, Palace of Westminster and will be available to watch live or on demand on Parliamentlive.tv.