Cashing in on chips

The UK needs a better dialogue between innovators and the world of business if it is to stay in the premier league of the global technology economy, it was claimed this week.

The country’s strong record in areas such as micro-electronics, optics and wireless systems could be undermined by poor communications between technologists, financiers and government, according to a new study of the sector from Deloitte.

The professional services group flagged up several areas where this country could do better, alongside a generally upbeat assessment of its technology base.

One area of concern was the oft-highlighted inability of the UK to turn technical expertise into major commercial operations.

‘Presently, the UK appears to be adept at developing world-class subject matter experts who too often lack commercial aptitude. This inevitably constrains their revenue-generating potential,’ said Deloitte.

‘The result is that school leavers and graduates often have little or no idea of how a company works, and how they could fit in. The cost of this is that too many great technological ideas are squandered, as their creators have little or no idea how to express their inventions in business terms to potential investors and customers.’