Advanced Research and Innovation Agency

Lord Stirrup Excerpts

Thursday 29th June 2023 Lords Chamber

[Lord Stirrup (CB)]

My Lords, this country has never been short of inventors with good ideas, but it has been much less good at putting those ideas through into marketable products, the economic benefits of which have all too often gone elsewhere. What emphasis is being placed in this programme on pulling sufficient private sector capital into these initiatives at a sufficiently early stage—initiatives which of course in some cases are bound to fail.

[Viscount Camrose (Con)]

I very much accept the thrust of the noble Lord’s point, which is that nationally we perhaps have more of a tendency to invent than to commercialise. As much as anything else, ARIA is in place to help address that.