Life Sciences Envoy submission to the LIFTS consultation
The BIA supports the response of the UKs Life Sciences Investment Envoy, and BIA Chair, Dr Dan Mahony, to the Government’s consultation on Long Term Investment for Technology and Science (LIFTS).
The response argues:
- There is a need for action to unlock pension funds to enable the scale-up of life science companies in the UK
- The creation of a fund of funds to finance a diversity of growth capital would be a good use of LIFTS funds, helping meet immediate need for scale up capital, and providing a ready-made investment vehicle to aid capital deployment
- The Government has a role to play in increasing information and awareness of the opportunities for pension savers in venture capital
Dr Mahony was appointed as the UK Government’s Life Sciences Investment Envoy to support the Government’s ambition of establishing a globally competitive life sciences investment ecosystem, and subsequently identified three priorities: Unlocking UK institutional investment, rebuilding the UK life science financing ecosystem and offering end-to-end support for UK scale-ups.
The consultation closed on 28 April 2023.
