This briefing argues that science policy needs to become more prominent, and, more importantly, more sophisticated.

Key findings:

• Science policy has become an important part of economic policy: science is now analogous to R&D.
• The UK Government has targeted an increase in R&D expenditure to 2.5 per cent of GDP by 2014.
• The UK faces a deficit of STEM-skilled people.
• Knowledge transfer initiatives have been introduced to translate knowledge into economic success.
• To ensure that UK science policy meets 21st century challenges, this briefing recommends ensuring that STEM supply meets demand, forging stronger links between industry and academia, and increasing R&D spend.

Science is about the discovery of new knowledge, and frequently leads to insights that form the basis of breakthrough new products and processes. 

Currently, the UK is improving in three important areas – R&D expenditure, STEM graduates, and links between business and universities – but not fast enough. 

In a world where the UK is competing not only with the United States and Europe but with emerging science powerhouses like China and India, science policy needs to become more prominent, but more importantly it needs to become more sophisticated.

Author:

Nesta