Kit Malthouse
Main Page: Kit Malthouse (Conservative - North West Hampshire)Department Debates - View all Kit Malthouse's debates with the Department for Education
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Kit Malthouse Excerpts(8 years, 8 months ago)
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Joseph Johnson
Since 2010, the UK has risen from 14th to second place in the global innovation index, behind only Switzerland. We continue to support innovation in this country through Innovate UK and our expanding Catapult network.
Kit Malthouse (North West Hampshire) (Con)
The most promising sector in the British economy at the moment is life sciences, yet historically start-ups in this sector have had difficulty attracting venture capital. Will the Minister update us on progress he is making on getting this vital resource into this vital sector?
George Freeman
That gives me a chance to congratulate my hon. Friend on his leadership as deputy Mayor of the MedCity initiative in London. The life sciences sector is growing fast. Last year, we hit a 17-year financing high, with more than £1.7 billion raised for early-stage companies. The challenge now is to make sure that those emerging businesses grow into substantial global companies, which is where my focus lies.