Science industry set to gain £300 million in funding – what does that mean for you?

According to the Telegraph, the science industry is set to receive £300 million in funding from the Department for Business, Innovation and Skills (BIS).

Science Minister David Willetts has commented that, “Investment in science is a crucial part of this government’s long-term economic plan. It’s about investing in our future, helping grow new industries and create more jobs – and that will mean more financial security for people across the country.”

Welcome news indeed, for anyone in the science industry. But what could the investment mean in ‘real’ terms?

Well, if you are currently working within the sector then this could be a particularly beneficial time. The UK already publishes 16 per cent of the world’s scientific research, a figure which looks like it could increase as the UK cements its position as a global leader in the sector. Increased funding means new research and with further research comes the need for new technologies and products. And of course, buoyant times mean new career opportunities.

Organisations in the sector may need to employ additional field sales staff or technical specialists, for example, to meet the requirements for additional products and technologies. In turn, this can open up exciting new opportunities that you might previously not have considered.

And if you are working in a laboratory currently, now might be the time to think about a change in career path. Have you ever considered sales? Organisations in the sector are always looking for individuals with proven laboratory experience who have a good understanding and working knowledge of the product range that they will sell and end-user experience of the issues and needs that are important in the laboratory environment. 

Another key point the article raises is that investment in UK scientific projects is also an investment in British innovation and in the creation of sustainable economic growth built on world leading science.  For every £1 spent on research, it is estimated that 50p is generated for the wider economy. And in the current climate, as we turn the corner of economic adversity, this is something to be welcomed indeed.