Commercialisation of Science at British Universities

Abstract

Over the last 20 years government’s expectations have risen—that the commericalisation of science performed at British universities will lead the next phase of economic growth, in creating a knowledge economy. Science research has increasingly been funded by government, leading to the proposition that value for the allocation of this expenditure will best be shown if scientists from the universities cooperate with industrial firms to launch innovative, knowledge-based enterprises, delivering economic benefits. This present examination of the enterprise record at the universities covered is set in the context of theories about national systems of innovation which have recently given more credit to university science as a contributor to innovation systems than was common in earlier innovation studies. The chapter then draws attention to the historical background of the formation of universities in the UK, noting that the most ancient institutions (Oxford and Cambridge) were slow to adopt science and technology in their curricula, yet they ended up being the leaders in commercialisation of research from the middle of the twentieth century onwards.