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Commercialisation is key to strategy and growth
Bringing new materials to market remains one of the most significant challenges in deep-tech innovation. Unlike software or digital products, materials-based innovations require significant capital investment, regulatory approvals, and long development cycles, making them a difficult prospect for traditional venture capitalists (VCs).
“A new material has no value until it is adopted into products, and this leads to an extra level of risk for the investment community – the reason commercialisation takes 20 years on average,” David Knowles, CEO of the Henry Royce Institute, told BI Foresight.
Materials innovation contributes approximately £45 billion annually to the UK’s economy and employs over 635,000 individuals across more than 2,500 companies, according to stats from the Henry Royce Institute. Over the past three years, the sector has secured an average of over £2 billion annually in external private and public funding for innovation activities within the UK. In short, this is a big and growing industry that has significant potential for the economy. Earlier this year, the Henry Royce Institute launched the UK’s National Materials Innovation Strategy to capitalise on this potential. For Knowles, the strategy is a welcome framework that “reassures investors” about the market potential of materials innovation.
The strategy is structured around tackling broad industry challenges rather than targeting specific materials. Knowles supports this approach, stating that it will stimulate the right materials to emerge in response to real-world needs.
“The strategy is very focused on being ‘top down’ and not focusing on specific materials but the challenges which need to be addressed to stimulate the right materials to come forward,” says Knowles. “Notwithstanding, there are great examples of areas where innovation will have a major impact.”
Knowles points to high-volume industries like the built environment, where innovation in cement production could drastically reduce CO2 emissions. Additionally, there is an opportunity to extend the lifespan of existing infrastructure, with advancements in corrosion protection and metal fatigue prediction playing a crucial role.
At the other end of the spectrum, he highlights emerging technologies like bioelectronics, which rely on materials that can provide electrical communication pathways for treating neurological conditions such as Parkinson’s and Alzheimer’s.
“The most impactful innovations, however, are going to come through materials embracing the digital revolution – Materials 4.0,” says Knowles. “Materials informatics has the potential to revolutionise the way we discover, use, and recycle materials, but there is a huge effort required in the UK to deliver on this potential. We’re in a bit of a race internationally here.”
Knowles notes that initiatives like MATcelerate ZERO can help de-risk materials innovation by securing government backing and industry partnerships, which in turn attract private investment. He adds that endorsement from government “is proving essential in opening doors to secure the interest of the global investment community,” a key thrust of the National Strategy.
It certainly sets out a plan to try and tackle challenges in clean energy, healthcare, semiconductors, and advanced manufacturing. But turning innovation into scalable, commercial impact remains a challenge. While the strategy is a welcome step, industry leaders argue that more must be done to connect research, investment, and industrial application.
One of the key focuses of the strategy is accelerating the transition from laboratory research to real-world manufacturing. This is a vital step, as the UK has a history of groundbreaking discoveries that have struggled to translate into commercial success.
Dr Simon Thomas, CEO and co-founder of Paragraf, warns that materials like graphene and other 2D materials have already proven their transformative potential but risk being overlooked in the UK’s push for materials innovation.
“Any discussion of innovative materials should include graphene and other two-dimensional materials,” says Thomas. “These materials have rapidly progressed from theory to laboratory breakthroughs and now to real commercial impact, with much of that journey taking place here in the UK. The National Materials Innovation Strategy is a welcome step in recognising the role of advanced materials in shaping industries like semiconductors, clean energy, and quantum technologies, but it must not overlook graphene’s proven ability to drive progress in these areas or risk jeopardising the UK’s world-leading position in 2D materials.”
Similarly, Ranjith Divigalpitiya, chief science officer at HydroGraph, highlights that bridging the gap between research and industrial adoption isn’t just about technical breakthroughs – it’s about fostering investor confidence and scaling up manufacturing capabilities.
“The UK’s National Materials Innovation Strategy is an ambitious step in the right direction,” says Divigalpitiya. “Its focus on accelerating material translation from the lab to the manufacturing floor is especially crucial. As we’ve seen first-hand, bridging this gap is not just about scientific breakthroughs; it’s about building investor confidence and demonstrating real-world impact. Institutions like the Graphene Engineering Innovation Centre (GEIC) provide a strong foundation, but wider accessibility to translational infrastructure will be key to unlocking graphene’s full potential across sectors.”
For Evangelos Zympeloudis, CEO and co-founder of iCOMAT, a University of Bristol spin-out materials manufacturer for automotive and aerospace, the National Strategy represents an important milestone in the country’s drive towards innovation-led growth. “Advanced materials are only as impactful as their ability to be manufactured at scale,” Zympeloudis told BI Foresight. “The UK has world-leading expertise in composites and structural materials, but without the right investment in manufacturing innovation, we risk losing our competitive edge. The National Materials Innovation Strategy is a crucial step in creating a culture of investment and commercialisation – one that ensures companies like iCOMAT can develop and deploy next-generation lightweight structures across aerospace, automotive, and beyond. By supporting cutting-edge manufacturing techniques, we can shorten the path from lab to industry and establish the UK as a global leader in advanced materials engineering.”
With the UK already competing strongly in areas like graphene, hydrogen, and semiconductor materials, the National Materials Innovation Strategy lays an ambitious foundation. However, experts agree that success depends on:
Knowles and others highlight that while the strategy sets a roadmap, the UK is in a race internationally. Countries such as the US, Germany, and China are making substantial investments in materials research and commercialisation, putting pressure on the UK to move quickly and decisively.
The key question now is: will the UK’s materials innovation strategy be bold enough to ensure it doesn’t fall behind? Industry leaders will be watching closely. The UK has the expertise, the talent, and the infrastructure – but will it act fast enough to turn innovation into economic advantage?
Working as a technology journalist and writer since 1989, Marc has written for a wide range of titles on technology, business, education, politics and sustainability, with work appearing in The Guardian, The Register, New Statesman, Computer Weekly and many more.
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