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There can be little dispute that the UK, with its excellent science base, has the potential to take advantage of the opportunities arising from the increasing speed of scientific and technological advance. However, especially in more recent decades, this potential has been consistently wasted. The fact is that despite an almost unparalleled track record on invention, the transfer from invention to innovation has often not been achieved by UK businesses with the result that the economy has failed to reap the commercial rewards from these discoveries.

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