Life sciences investment – techUK response to call for evidence

Executive summary

techUK is the UK’s technology trade association, representing over 1,000 organisations, the majority of which are UK-based SMEs. Our members span the full breadth of the health and life sciences ecosystem – including pharmaceuticals, medical technology, digital health, genomics, biotech, AI, and data science – and work extensively with the NHS, UK Government and health care organisations to deliver digital transformation and innovation.

We are submitting this evidence to the Science, Innovation and Technology Committee in response to its consultation on Life Sciences Investment. Our submission reflects the views and experiences of techUK’s Life Sciences Working Group and wider health and care membership and aims to support the Committee’s efforts to identify actionable steps to strengthen the UK’s position as a global leader in life sciences.

While the UK boasts world-class research institutions, a strong innovation base, and a globally respected regulatory system, its competitiveness is declining. Foreign Direct Investment in life sciences fell by 58% between 2021 and 2023, clinical trial activity has dropped significantly, and venture capital is increasingly flowing to the US and EU. techUK members cite regulatory delays, fragmented adoption pathways, pricing pressures, and structural uncertainty as key barriers to investment and growth.

We welcome the ambition of the Life Sciences Sector Plan (LSSP), which sets out clear goals and deliverables around R&D, manufacturing, and data. However, delivery must now be the priority. techUK calls for stronger emphasis on operational infrastructure, digital integration, and industry collaboration to ensure innovations reach patients and deliver measurable impact. techUK and its members are ready to work with government, regulators, and the NHS to deliver the LSSP and unlock the full potential of UK life sciences.

Rachel Kennedy

Programme Manager Health and Social Care, techUK

Rachel joined techUK in December 2024, as a Programme Manager in the Health and Social Care team.

Prior to this, Rachel worked at a specialist health and social care public affairs agency, working with a range of organisations and trade bodies across the medical technology, pharmaceutical, digital health and social care sectors. As well as this, Rachel was part of the Secretariat for a number of health and care related All-Party Parliamentary Groups.

Rachel has a Masters in Global Governance and Diplomacy from the University of Leeds, as well as a first-class honours in Politics BA from Newcastle University.

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Health and Social Care Programme activities

techUK is helping its members navigate the complex space of digital health in the UK to ensure our NHS and social care sector is prepared for the challenges of the future. We help validate new ideas and build impactful strategies, ultimately ensuring that members are market-ready. Visit the programme page here.