Stocks and Investing Stocks and Investing

UK must do more to lead innovation in bio-tech sector, Lords committee says


Published on 2025-01-13 20:02:16 - MSN
  Print publication without navigation

  • UK must do more to lead innovation in bio-tech sector, Lords committee says - Peers have warned the UK risks failing behind rivals if it does not do more to innovate in the engineering biology sector.

The UK must enhance its efforts to lead in the biotechnology sector, according to a report by the House of Lords Science and Technology Committee. The report highlights that while the UK has a strong foundation in life sciences, it risks falling behind global competitors like the US and China if it does not address several key issues. These include improving access to capital for biotech startups, streamlining regulatory processes, and fostering better collaboration between academia and industry. The committee also emphasized the need for a more robust skills pipeline to ensure a steady supply of talent in the sector. Additionally, the report calls for government intervention to create a more supportive environment for innovation, including tax incentives and infrastructure development, to maintain and grow the UK's competitive edge in biotechnology.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/technology/biotechnology/uk-must-do-more-to-lead-innovation-in-bio-tech-sector-lords-committee-says/ar-BB1roxAM ]