The Lambert Review Of Business-University Collaboration, published in December 2003 looked at the relationship between industry and academia in scientific research and commercialisation of that research. It broadly supports the Government’s approach to ‘third stream funding’ which promotes knowledge transfer. The amount of money spent by UK companies on research and  development (R & D) is low compared with other industrialised nations: about $410 per person compared with $700 per person in France and $1300 in the USA.

There are barriers to commercialising university IP, including lack of clarity on ownership in research collaboration and in the variable quality of university technology transfer offices. Universities perform well by international standards in science and technology. There has been a marked change of culture, with many universities casting off their ivory tower image and playing a much more active role in their regional and national economy. But, there had been too much emphasis on spinouts over the last decade compared with licensing fend other forms of commercialisation).