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Fund should focus on physics
Institute of Physics Press Release
PR38 (09)
Fri, 17 July 2009
The Institute of Physics (IOP) has today submitted its response to the Rowlands Growth Capital Review, which is being undertaken for the Department for Business, Innovation and Skills (BIS). The review will examine how the proposed government-administered Venture Capital fund, designed to stimulate the UK economy during the ongoing recession, should be operated.
John Brindley, Director of Membership and Business at IOP, said:
“Innovative science start-ups are the key to bringing breakthrough physics research to market. Physics-based technologies such as flexible displays and plastic electronics have the potential to drive the economy of the future, but to succeed they need long-term investment.
“The proposed innovation investment fund should focus on the areas where it is most needed and where it can make a real difference. High-tech start-ups often require long lead times for their development, and the risks involved have not always proved attractive to VC funds. But targeted investment in science-based businesses can pay huge dividends in the longer term, creating a competitive edge which will allow the UK to thrive in the anticipated economic upturn.
“We need a brave venture capital fund that places faith in UK innovation, and gives our researchers time to develop the next wonder material or breakthrough technology.”
Notes to editors:
Contact
1. For further information contact IOP Press Officer, Joe Winters:
Tel: 020 7470 4815
Mobile: 07946 321473
E-mail: joseph.winters@iop.org
The Institute of Physics
2. The Institute of Physics is a scientific charity devoted to increasing the practice, understanding and application of physics. It has a worldwide membership of more than 36 000 and is a leading communicator of physics-related science to all audiences, from specialists through to government and the general public. Its publishing company, IOP Publishing, is a world leader in scientific publishing and the electronic dissemination of physics. Go to http://www.iop.org/.
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