Letter to the Prime Minister on investment in innovative science and technology companies

Letter to the Prime Minister on investment in innovative science and technology companies
The Council for Science and Technology has written to the Prime Minister giving advice on encouraging scale up investment in innovative science and technology companies.
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In a letter to the Prime Minister sent in September 2021, the Council for Science and Technology (CST) explores how the government can encourage scale up investment in innovative science and technology companies.
The recommendations in this letter focus on the cultural, behavioural, and structural changes needed to help unlock scale up investment.
We have added the Prime Minister’s response to the CST letter on investment in innovative science and technology companies.
In October 2022, CST provided further advice to the Prime Minister on how to increase availability of finance for innovative companies to grow and scale up in the UK, building on measures announced in the Growth Plan 2022.
CST highlighted the need for regular, sustained engagement with the investment community to signal areas where S&T investment would help deliver national goals.
New recommendations include targeted use of public procurement, fellowships to boost numbers of science and technology specialist investors and reviewing measures to support corporate venturing in areas of national priority.
In June 2023, the Prime Minister and Secretary of State for the Department for Science, Innovation and Technology wrote in response to CST advice on access to finance for innovative companies and delivering national priorities through public procurement. This follows discussions with members on the Science and Technology Framework.
Updates to this page
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Analysis commissioned to support CST's advice in 2022 was updated and published in an evidence pack titled 'UK startups & VC landscape evidence pack'.
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Uploaded PDF and HTML version of new letter from DSIT SoS to CST, which was written in June 2023.
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Further advice to the Prime Minister published on how to increase availability of finance for innovative companies to grow and scale up in the UK. Also published definitions and evidence pack.
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Published Prime Minister's response to letter on investment in innovative science and technology companies.
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First published.