Promoting innovation

It’s great to see the Government support entrepreneurs but I feel that more could be done to unlock Britain’s potential to develop new markets.

Entrepreneurs drive markets but it’s innovators who create them. The Government could better support Britain’s patented innovations that face difficult challenges, often disruptive to established markets, that one day may help us achieve our global challenges.

One example of how the Government could do more to help is to foster outcome based policies such as the Longitude Act of 1714 where, against all odds, a carpenter developed the working marine chronometer and solved an age old problem of accurate navigation at sea that gave us significant global presence.

I feel that Britain is now in need of a new Longitude Act, one that focuses on innovation such as in energy efficiency as ‘heat and eat’ will become ever more centre stage in our national agenda as resource competition from emerging countries will increase energy and food costs that lower our competitive advantage.

Today, Britain seems tied to policies that over regulate and stifle innovations at the very time when we need to free the brakes and open competition to drive investment in new understanding that forms the basis of patented intellectual property.

As a serial inventor of patented technology in energy efficiency I have significant experience in working with regulators and Government who are aware of the barriers and while some progress has been made, much more could be done to increase Britain’s chances of maintaining its lead in global technology and knowledge.

I would like to offer my support in joining the Growth for Britain debate and hope my experiences might help us all achieve our goals.

Chris Farrell
Zenex Technologies Ltd.

Chris Farrell, Zenex Technology Ltd | Tue 17th Dec 2013 at 12:25