I spent a fascinating day yesterday at Londons ancient Guildhall at the CUTEC first annual venture capital conference a technology showcase and networking event organised by Cambridge University students.
Apart from the usual questions that come up about hype, commercialisation and the environment. it was great to hear David Hughes, Director General of the DTIs Innovation Group being both positive and realistic about the UKs efforts in nanotechnology. Typical of some of the behind the scenes work that goes on, is the untangling of some of the layers of bureaucracy that result in companies receiving government assistance and the being taxed on it.
It brings home the message that throwing money at nanotechnology is not the solution. The money has to be targeted, and all the other supporting infrastructure necessary to encourage innovation has to be in place. The presence of entrepreneurial masters such as Ken Morse at these events always encourages me, while striking terror into the hearts of any lily livered entrepreneurs.