The UK's potential for innovation is highlighted by the New Whittle Laboratory in Cambridge, a £58mn facility focused on transforming aerothermal engineering. Director Rob Miller aims to drastically cut development times, supported by the affiliated Bennett Innovation Lab, led by Elliott Grant, which seeks to create a "hardware unicorn machine" for tech start-ups.

Despite enthusiasm, challenges remain. Sir John Lazar notes the difficulty in assessing and managing risk. The "UK Innovation Blueprint," featuring contributions from 24 experts, offers 10 recommendations to close the "conversion gap," including mobilizing capital, government support, and easing visa restrictions. Entrepreneur Amir Hegazi experienced visa issues firsthand, relocating to the UAE.

A key weakness identified is the lack of risk-taking growth capital, forcing pioneering UK companies like Arm and Deep Mind to be acquired by US or Asian buyers. Hermann Hauser laments that all European tech unicorns he backed relocated to the US. Kate Bingham suggests replicating the successful, mission-driven approach used during the Covid-19 pandemic's Vaccine Taskforce. The incoming government is urged to prioritize enterprise to reignite growth, despite current political focus on devolution and taxation.