Technology entrepreneur and venture capitalist Hermann Hauser

So when the previous government wanted a report on how to turn more of Britain’s university research into commercial ventures, Hauser was an obvious person to write it. His recommendation was to create a series of technology centres to help small firms and university spinouts take their prototype products to market. And when the current government came to power, it took forward the idea and launched what are now known as the Catapult centres.

His view on the Catapults is that they have been a good effort so far, even if he wanted them named after a famous British scientist. But he is withholding his ultimate judgement for the same reason that he was surprised the idea was picked up by the politicians in the first place.

‘I think the important thing to realise with the Catapult centres is that we will not know how good they are for another three to five years when we’ll have early signs of whether they fulfil their purpose,’ he says. ‘And the real benefits we’ll reap probably in 10 to 20 years’ time. This was always something that was very difficult to explain to politicians about these intermediate institutions between university and industry.’