Senior figures from across industry, academia, investment and government have warned that the UK’s challenge in turning scientific research into scalable companies goes far beyond access to capital, calling for a coordinated national approach to address gaps in venture support, infrastructure and talent.

The message emerged at a House of Lords roundtable hosted by The Lord Ranger of Northwood, where stakeholders discussed findings from Beyond the Capital Gap: How do we develop an operational blueprint to capitalise on UK science, a report commissioned by Pioneer Group and The Crown Estate and authored by Henham Strategy.

The report argues that while increased investment could help address early-stage funding constraints, capital alone will not resolve the UK’s commercialisation bottleneck. Instead, it highlights structural weaknesses in the ecosystem that prevent research from translating into globally competitive companies.

Phase One of the research suggested that improved investment conditions could unlock more than 1,700 additional spinouts, create around 56,000 jobs and generate up to £27bn in co-investment. However, Phase Two warns that without supporting infrastructure, additional capital risks flowing into a system that is not equipped to scale innovation effectively.

The findings centre on three persistent barriers: inconsistent venture-building support for founders, shortages of specialist laboratory and technical space outside established hubs, and widening gaps in technical and commercial leadership talent.

Toby Reid, executive director at Pioneer Group, said the UK risks losing ground to international competitors unless structural issues are addressed alongside funding.

“The UK’s scientific excellence is unquestionable. The challenge now is turning that excellence into impact consistently over time across the UK,” Reid said. “Unless we strengthen the infrastructure around talent, lab space and venture support, we will continue to lose ground to faster-moving global competitors.”

The report also introduces a nine-stage commercialisation taxonomy linking Technology Readiness Levels to specific funding, infrastructure and organisational needs, intended to give policymakers and investors a shared framework for intervention.

Beyond structural analysis, the roundtable highlighted practical constraints faced by early-stage companies attempting to scale in the UK.

BiVictriX Therapeutics chief executive Tiffany Thorn pointed to the limitations of seed-stage financing and the knock-on effects for company growth.

“This process took considerable time, slowing momentum at a critical stage,” Thorn said. “It also resulted in smaller, incremental funding rounds rather than the step-change investment needed. For companies like ours, this creates a fundamental challenge.”

She added that constrained funding cycles can delay team expansion and weaken competitive positioning at a critical stage of development.

Recruitment challenges were also raised by executive search specialists, with concerns that international leadership talent can be deterred by perceptions of fragmented funding and remuneration constraints.

Coulter Partners founder and executive chair Bianca Coulter said these issues affect the UK’s ability to attract experienced leadership teams.

“The challenges in raising money here beyond early stages, along with the perception that funding is drip fed and CEOs spend a disproportionate percentage of their time raising it… deter experienced CEOs from coming to the UK from the US,” she said.

Harry Destecroix, founder of Science Creates in Bristol, added that founders are often forced into continuous fundraising cycles rather than focusing on company development.

Attention also focused on the lack of coordinated regional development, with participants calling for stronger alignment between local government, investors and infrastructure planning to support science clusters beyond the so-called Golden Triangle.

Oliver Smith, executive director for investment and operations at The Crown Estate, said long-term coordination is essential to scale innovation nationally.

“Success depends on strong, connected ecosystems which bring together investors, universities, innovators, developers and government around a shared mission,” Smith said.

The report is now moving into a third phase, with stakeholders invited to contribute to the development of a proposed national blueprint for UK science commercialisation.