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The writer is president of Imperial College London
The British government’s innovation strategy aims to “cement the UK’s position as a world-leader in science, research and innovation”. If we are to achieve that laudable goal, we must focus on the ecosystems that help innovators to thrive. Places such as Silicon Valley and Cambridge, Massachusetts, offer lessons for a country at an inflection point for science, innovation and growth.
A successful innovation economy has three catalysts: people, places and funding. Entrepreneurs know that access to talented colleagues and mentors, the right workspaces and investment are critical. They determine whether innovative ideas thrive or fail.
The UK can nurture that talent, space and investment through policies that support innovation districts and clusters built around one of our foremost competitive advantages: universities. This calls for smarter tax incentives, a clearer embrace of international innovators, and more…
