UK’s inability to retain science companies has reached ‘crisis point’, warns new report

The UK’s failure to retain and scale science and technology companies has now reached a ‘crisis point’, warns a new report from the House of Lords science and technology committee.

The report says that the UK has seen ‘a procession of promising science and technology companies moving overseas ’. It adds that without ‘urgent and radical reform’, it may soon be too late to fix long-standing failures to scale, retain the economic benefits of research and development, and seize opportunities for technological and economic growth.