Vince Cable’s Keynote Speech

Vince Cable’s keynote speech on Growth

I found some very interesting points in yesterday’s speech. The comment on the need to commercialise and translate invention in to commercial application was so well made in my opinion. What worries me is why is Britain relatively bad at this? Universities sit on masses of potential and that’s where it remains –  as potential! Many of those individuals wanting to have a go at business with their IP often get the wrong advice – usually from someone that has never done it for themselves. Many of the wannabe academic entrepreneurs get so caught up in protecting their ideas, they forget that they have to create and sell something if they want to succeed in a commercial world.

If commercialisation is going to happen Mr Cable, you have to create the right culture within these institutions and get the right advisers who have the licence to advise. Research and entrepreneurial mindset don’t often go hand in hand. The biggest barrier to allowing enterprise to flourish is the very universities themselves – sort this out and the mind to market pipeline will become unblocked.

Read the Keynote Speech here

2 Responses to Vince Cable’s Keynote Speech

  1. Julia says:

    I don’t think I disagree with you too much, but working in a university, I think the systems that are built are designed to be risk-averse.

    The problem is, with the current economic straight jackets, I can see it getting it worse as universities tighten their belts and actually take even less risks.

    On top of this, the very best academic entrepreneurs are usually (but not always) the best teachers and the best researchers. These people are then torn in a number of directions – sometimes if not careful – becoming jack of all trades.

    I think the solutions are not easily solvable in a blog comment but an incentivisation scheme (talking more about time rather than money) that allows academics and entrepreneurial coaches to mix and forge alliances, informal and formal, without the bureaucracy would be a good start.

  2. johnleachwp says:

    Hi Julia – fair point just frustrates me when I see great ideas fade away – John

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