The City has been maligned. It is capable of taking a long-term view of the needs of companies to invest in R&D, if only chief executives can explain their strategy properly.
A surprising conclusion, but at a Royal Academy of Engineering seminar this week, speakers such as Mercury Asset Management head Carol Galley convinced some of the best brains from industry and academia that the City had changed. If this is indeed true, it is welcome news.
The academy’s conclusions from its series of seminars should also have the welcome effect of moving on an old argument over whether R&D spending should be 1%, 2% or 10% of turnover: the main thing is that it should be effective in helping companies keep ahead of the competition.
So: take the City at its word, get out there and make your case. Let’s see if it works. We’d like to hear about your experiences.