A new Venture Capital Fellowship, launched by Imperial and the Royal Academy of Engineering, will help boost the deep tech and life sciences sectors.
This was the focus of a speech by Lord Vallance, Minister for Science. He was speaking at the official launch event for the new Science and Technology Venture Capital Fellowship, a unique, government-backed initiative designed to upskill investors’ knowledge and experience in the deep tech and life science sectors and unlock capital in this critical space. The programme will be delivered by Imperial in partnership with the Royal Academy of Engineering and funded by the Department for Science, Innovation and Technology.
Speaking at the evening reception at the Royal Academy of Engineering, Lord Vallance said: “Too often, cutting-edge innovations and burgeoning companies are stymied in their growth or forced to leave the UK, due to a lack of access to capital.
“Together with Imperial College London and the Royal Academy of Engineering, we are delivering a fellowship that will make more investors aware of the formidable potential of the UK’s deep tech and life science sectors.” Lord Vallance Minister for Science
“Together with Imperial College London and the Royal Academy of Engineering, we are delivering a fellowship that will make more investors aware of the formidable potential of the UK’s deep tech and life science sectors.”
He praised the organisers of the Fellowship and welcomed the first cohort to the programme. He stressed the need for the right environment for growth and for a funding ecosystem to provide capital at the scale that companies in the deep tech and life sciences sector require.
He said: “This new fellowship supports investors to make more informed choices about where they put their capital, opening up a wider pool of capital for new science and technology firms, and helping to harness R&D as a force for economic growth.”
With tailored teaching, customised networking and exclusive access to industry leaders, the fellowship programme will enable more investment in the UK’s R&D intensive small to medium sized enterprises.
The event followed the launch of a report by the Royal Academy of Engineering which shows that the UK needs more venture capital expertise in deep tech to boost domestic investment.
The evening featured a panel discussion chaired by Professor Ramana Nanda, Academic Lead at Imperial’s Institute for Deep Tech Entrepreneurship. The panel discussed the opportunities and challenges of investing in deep tech and life sciences and took questions from the audience.
In his concluding remarks, Professor Peter Todd, Dean of Imperial College Business School highlighted how the new Fellowship reflects Imperial’s Science for Humanity strategy. He said: “We’ve heard today about the growth opportunities in the UK’s deep tech sector. As a bridge between research, enterprise and policy our role at the Business School is to help make those opportunities happen; to help facilitate growth and to bring science to humanity. We do that by creating connections between academia, the private sector and the government; uniting insight, means and confidence.”
Commenting on the launch of the Fellowship, Professor Mary Ryan, Vice-Provost (Research and Enterprise) at Imperial said: “This new Fellowship marks a significant milestone for the UK innovation communities and highlights the vital work we are doing at Imperial to enable the translation of groundbreaking scientific research into real-world commercial ventures that address society’s most pressing needs. Deep tech is critical for tackling global challenges, from climate change and food and water insecurity to advancing medical breakthroughs.”
She added: “As a trusted partner between the worlds of research and enterprise, we are committed to supporting and developing new approaches to scaling the impact of new discoveries, helping innovations and innovators reach their full potential. These fellowships will enhance the UKs capacity to translate Deep Tech, ultimately driving economic growth in both London and the UK.”
