Patient Finance and Industrial Strategy, a workshop at the UK Parliament

The event, organized by the UCL Institute for Innovation and Public Purpose, has taken place on June 13th

ISIGrowth participates at a major workshop organized by the UCL Institute for Innovation and Public Purpose, held at the UK House of Lords, hosted by Rt Hon. Lord David Willets.

Across the world, governments are recognising the important role that ‘mission-oriented’ industrial strategy can play in tackling the key challenges of the 21st century. At the same time, there is also a growing recognition that this requires not just any type of finance but patient, long-term, committed finance. In the UK, the Government’s new Industrial Strategy set out four ‘Grand Challenges’ to position the UK at the forefront of the industries of the future, while HM Treasury’s recent Patient Capital Review highlighted the importance of patient finance for investment in innovative firms.

The workshop brought together leading policymakers, practitioners and academics to explore how patient finance can support mission oriented industrial strategy, reflecting on leading examples from the UK and around the world.

The day consisted of three panel sessions. The topics covered include: mission-oriented industrial strategy and investment-led growth; patient finance and state investment banks; lessons from international experience. ISIGrowth’s coordinator Giovanni Dosi attended the event. Professor Mazzucato introduced and chaired the workshop.