The UK ScaleUp Investment Mission backed by Parliament

Earlier this week, the House of Lords Science and Technology Committee published its report, “Bleeding to death: the science and technology growth emergency.”

The report marks an important moment for the UK ScaleUp Investment Mission, led by VenturePath. Many of the recommendations first set out in VenturePath’s 2024 Open Letter to Government, and reinforced through over 60 subsequent meetings - including a House of Lords evidence session - have been reflected in this publication.

This recognition validates the growing call for urgent action on the UK’s scaleup investment challenge, an issue VenturePath has been at the forefront of addressing over the past 18 months.

Reflections from the Committee’s findings

The Committee’s conclusions closely align with several of VenturePath’s key proposals, including:

• A clearer, joined-up Government focus on scaleups and growth funding

• Greater collaboration between public finance bodies and private investors

• Improved tracking and transparency of UK scaleup investment data

• Stronger referral pathways from Innovate UK and public funding into private capital

• A sharper focus on retaining and growing UK-owned innovation

You can read the full House of Lords report here.

These recommendations highlight a shared understanding across both public and private sectors of the barriers preventing innovative UK companies from scaling successfully. While this alignment is encouraging, the priority must now shift to implementation - ensuring that policy translates into practical support for growth-stage businesses.

A continued focus on practical solutions

For the past 18 months, the UK ScaleUp Investment Mission - backed by over 100 ecosystem leaders and £13bn of venture funds - has been championing practical, consensus-based solutions to close the funding gap between Seed and Series A.

The Mission has worked to bring together government, investors, and ecosystem partners around a single, coordinated approach to scaleup funding. Its focus is to ensure the UK can retain, grow, and compete internationally with homegrown innovation.

The inclusion of many of these recommendations in the Committee’s report is a positive step forward. However, the real measure of progress will be whether Government acts to implement them in full.

Next steps

VenturePath and our partners will continue to engage with policymakers, investors, and ecosystem stakeholders ahead of the next Budget to maintain momentum and ensure the recommendations lead to meaningful change.

VenturePath founder Ian Merricks has also shared his analysis of the report here, reflecting on its implications for the UK’s innovation ecosystem and the next steps required to strengthen the scaleup investment environment.

We thank all partners and supporters of the UK ScaleUp Investment Mission for their continued collaboration as we work together to secure the UK’s position as a global leader in scaling technology and innovation.