In a letter to the Prime Minister sent in September 2021, the Council for Science and Technology (CST) explores how the government can encourage scale up investment in innovative science and technology companies.

The recommendations in this letter focus on the cultural, behavioural, and structural changes needed to help unlock scale up investment.

We have added the Prime Minister’s response to the CST letter on investment in innovative science and technology companies.

In October 2022, CST provided further advice to the Prime Minister on how to increase availability of finance for innovative companies to grow and scale up in the UK, building on measures announced in the Growth Plan 2022.

CST highlighted the need for regular, sustained engagement with the investment community to signal areas where S&T investment would help deliver national goals.

New recommendations include targeted use of public procurement, fellowships to boost numbers of science and technology specialist investors and reviewing measures to support corporate venturing in areas of national priority.

• Letter to the PM on increasing the availability of scale-up investment – 7 October 2022
• PM response to letter on investment in innovation science and technology companies – 29 November 2021
• Letter to the PM on investment in innovative science and technology companies – 23 September 2021
• Innovation finance definitions
• Innovation finance evidence pack