A report from the Department of Innovation, Universities and Skills (DIUS) has found that the
The annual report on the Science and Innovation Investment Framework 2004-2014 found that the
‘That said, there’s no room for complacency,’ said Ian Pearson, Minister for Science and Innovation. ‘We must work hard to encourage more young people to study science if we are to build a new generation of highly skilled professionals.
‘Recent changes, including the newly independent Technology Strategy Board, will create a stronger focus on innovation and help us in partnership with business to aid the development of new technologies.’
According to the report, an increasing number of spinouts, and higher licensing and consultancy income indicated that commercial application of scientific research was showing an upward trend.
Indicating that the UK was second to the US in global scientific excellence, despite increasing international competition, the report also showed that business investment in R&D was increasing and keeping up with GDP growth. It did suggest, however, that more rapid growth was needed to meet the long-term ambitions.