Actions and Detail Panel
The future of science innovation
Thu 1 June 2017, 17:30 – 20:30 BST
The future of science innovation: building collaborations between academia start-ups and industry
Science start-ups and academic research are pushing the boundaries of knowledge and innovation in the scientific sector. Only a small proportion of them reach fruition. Of those success stories, solid relationships with industrial partners have enabled start-ups to grow and pioneering research to reach the public. Industrial partners have potential to offer expertise in commercialising a business and providing avenues to investment. Likewise, it is hugely beneficial for larger businesses, that no longer maintain their research and development strategies, to out-source their innovation from smaller companies. It has been shown firms promoting innovation grow twice as fast at those who do not innovate1.
Without this foundation for effective collaborations, start-ups cannot realise their full potential, and corporates stagnate. In such instances, barriers to initiating and maintaining collaborations are often based on a plethora of issues, such as a perception by corporates for collaborations to be too “high-risk” and the mismatch in goals and business strategies between start-ups and corporates.
Policymakers, from research councils to government, have the tools to tackle these issues that include: educating corporates to innovate and academics to be enterprising, creating grants and incubators, and building relationships.
In this event, we will be holding an interactive panel discussion that will aim to dissect these key issues and give an opportunity for policymakers to propose solutions to these. Points of interest will include:
- How can policymakers encourage corporates to value start-ups as high potential gain?
- What can be done to maintain relationships between corporates and start-ups after incubators?
- What can policymakers do to shift culture in academic institutions to become more enterprising in their research?
- What strategies can be implemented to overcome regulatory hurdles, especially in the life sciences sector?
We welcome policymakers, academics and entrepreneurs working with science start-ups and corporates.