Oxford, 10th June 1998

The Oxford Trust encourages the study and application of science and technology. It is an independent foundation and a registered charity. The Trust administers a number of initiatives designed to help start up and small, technology based firms, such as its Innovation Forum which is a network for the exchange of information and know-how between research organisations, technology-based small and medium-sized enterprises and related professional support services in Oxfordshire, as well as company incubators.

1   Meeting with Mr Paul Bradstock, Chief Executive, Dr David Baghurst, Manager, The Innovation Centre, Ms Gillan Pearson, Director of Education, The Oxford Trust, Sir Peter Williams, Chairman, Oxford Instruments, plc and representatives of resident companies.

Topics discussed: The rôle of The Oxford Trust; the importance of fostering an innovative culture; encouraging company growth through innovation; investing in technology based companies; Oxford BioTech Network; Managing for innovation; Fostering enthusiasm for science and technology.

Oxford Instruments is a publicly quoted high technology company with origins in the University of Oxford. Sales of c. £150 million pa in instrumentation for healthcare, industry and research are supported by a research and development budget in excess of £10 million pa net of additional research contracts. Exports and overseas sales amount to 85% of sales revenue and the company has strong links to the science bases in the UK, the USA, Europe and East Asia.

2   Meeting with Sir Peter Williams, Chairman, and Mr Andrew Mackintosh, Chief Executive, Oxford Instruments plc.

Topics discussed: The development of Oxford Instruments plc; the importance of investment in research and development to maintain competitiveness; relations with the science base.

3   Meeting with Dr David Hawksworth, Managing Director, Oxford Magnet Technology.

Topics discussed: The importance of market identification; manufacturing efficiency; product development and innovation.