In a speech at the Policy Exchange in London this week, Universities and Science Minister David Willetts argued that Britain’s greatest national assets - universities, science facilities and researchers - are the best single hope for the UK to make its way in the high-tech world of the future, creating jobs and opportunities and boosting economic growth.

Mr Willets argued that, “If properly nurtured they can ensure that Britain will be up there as a leading location for research in the physical and life sciences and beyond. Britain can be the preferred location for companies’ R&D. We can have world-class industries using cutting-edge technologies. We can have a prosperous future with a role in the world.”

The UK is already a world leading research base. UK scientists have been awarded over 70 Nobel Prizes for their scientific achievements. Four of the world’s top ten universities for clinical, pre-clinical and health subjects are in the UK and the nation produces the highest number of science, mathematics and computing graduates annually in the EU.

As part of the government’s commitment to making Britain the “best place in the world to do science”, Mr Willetts announced that the government will invite proposals for a new type of university with a focus on science and technology and on postgraduates but, explained that there will be no additional Government funding. Instead the government hopes to encourage investment from external sources “to drive forward private investment and innovation”.

“Globalisation is still at its early stages when it comes to Higher Education.” Mr Willetts said. “The next round of new institutions may well link existing British universities with international partners. The surge in international investment in science and technology would make this a key part of the mission of a new foundation.”

“It might be that today’s institutions propose a new campus or a new international partnership. Or it might be new providers wanting to enter with different models. Today I can announce therefore that the Coalition is inviting proposals for a new type of university with a focus on science and technology and on postgraduates. Local economic partnerships, universities, businesses and international partners can come together to put forward proposals for new institutions.”