In the tidal wave of gloom engulfing our national conversation, there is one ray of light. Britain has the emergent foundations for reproducing what China and the US are doing, and better than anywhere else in Europe. The UK has the world’s third biggest venture capital industry. It has a state-owned development bank, the British Business Bank, as the country’s lead venture investor, an exceptional science base and two-fifths of Europe’s fast-growing, young, venture-backed, high-growth companies.
