Productive Economy

"Science and technology is the backbone for productivity and innovation; not always information technology, but science and technology has been a driver of economic success."

Steve Ballmer, CEO Microsoft

Stem cells: UK researchers discovered how to culture embryonic stem cells. Continuing support for stem cell research has placed the UK in a leading position in regenerative medicine, currently more than a £500 million per annum industry, estimated to rise to around £1 billion by 2013.

Food security: Research has helped increase wheat production by £75 million per annum and its impact on world wheat production is estimated to be as much as £4.6 billion per annum.

Semantic web: UK scientists have been pivotal in the establishment of new interdisciplinary Web Science. These ideas are currently being applied by Sir Tim Berners-Lee and Professor Nigel Shadbolt in work commissioned by the Prime Minister.

Government: Game theory research resulted in £22.4 billion revenue to Government from 3G licence sales, equivalent to 2.5 per cent GNP, or enough to build 400 new hospitals.

Spin outs: Arising from an RCUK funded PhD at the University of Edinburgh, Multichannel Transient ElectroMagnetics (MTEM) is Scotland’s largest academic spin out and was sold for over £170 million.

Combating livestock disease: Research on the bluetongue virus has saved £485 million through prevention of outbreaks and has protected 10,000 UK jobs.

Inward investment: After only two years, Daresbury Science and Innovation Campus secured £70 million inward investment, created 90 high value new jobs and attracted 85 hi-tech SMEs producing sales valuing £15 million. In 2009 the campus was named the UK Science Park Association's Most Outstanding Science Park.

New products: Securing over £60 million of equity finance, one of the largest in the history of European venture capital, Plastic Logic, a spin out from the university of Cambridge, produces electronic reader products which are more like paper than any other product.