Good morning ladies and gentlemen. I am delighted to be here to open your new Centre for Vision, Speech and Signal Processing. This is an exciting area of science, and I am extremely pleased that the Government's Joint Infrastructure Fund has played a part in setting it up. We have always had a remarkable record of discovery, and it is encouraging to see that now improving our rate of innovation. I am always heartened to see investment in infrastructure at universities, particularly when it contributes directly to leading edge science. For the second time today I am pleased to say that the Government's Joint Infrastructure Fund has played a part in this.
Investing in the science base and key technologies in this way is a high priority if the UK is to remain a world leader in scientific research. The UK can be justifiably proud of its record in science: With only 1% of the world's population, the UK funds 4.5% of the world's science and produces 8% of the world's scientific papers, and receives 9% of citations. As the lead investor in scientific research, Government is in a unique position to create the environment necessary to achieve this. World-class science needs world-class facilities and people. That is why the Government has put a lot more money into the science and engineering base.
However, new ideas are part, but only part, of the wider process of innovation that is essential to wealth creation and quality of life. In the Science and Innovation White Paper published in 2000, we set out a range of policies to speed up and support the rate of innovation. We have introduced schemes such as University Challenge (which provides seed corn funding to universities), Science Enterprise Centres (which provide access to entrepreneurial skills to undergraduates and graduates in science and engineering), and the Higher Education Innovation Fund (which provides funding to universities to encourage them to do knowledge transfer).
These are already beginning to show impressive results. Last year there were 199 spin-off companies from universities, compared to an average of 70 each year for the previous 5 years. There has also been a sharp increase in the number of patents filed, up 22% between 1998/99 and 1999/2000, and the proportion of research income funded by companies in the UK is also up and is now at a higher level than even the USA.
In its first term of office the Government made clear its commitment to supporting basic research, providing incentives for knowledge transfer and building a confident relationship between consumers and scientists. In our second term we are determined to build on initiatives we have taken. Already a major cultural change has taken place in Universities as they respond to the challenges of the knowledge-driven economy. This Centre is part of that exciting development.
I take great pleasure in formally declaring the Centre open.
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