Government Chief Scientific Adviser Professor Sir John Beddington, said:

"I am delighted that in his speech this morning David Willetts reaffirmed the importance of science, technology and innovation for generating growth now and for building future prosperity. I am particularly pleased that he found the Foresight project that I commissioned on Technology and Innovation Futures helpful."

Professor Dave Delpy, RCUK Impact Champion, said:

"The UK research base is one of the best in the world and we should be proud of the impact it has both here and abroad. In addition to the outstanding research we support, the Research Councils continue to invest in schemes and partnerships that increase the impact of this research. It is vitally important to demonstrate the value that the UK’s excellent research contributes to the economic growth, prosperity and wellbeing of the UK, both now and in the future."

Imran Khan, Director, Campaign for Science and Engineering, said:

"The Minister is right to underline the challenge facing the UK: we should aim to be the best place in the world for science, but we're currently way behind nations such as Germany, Japan, and the US in terms of business and industry investment in research.

"Today David Willetts reiterated a whole series of positive measures the coalition is taking to incentivise more private sector investment - but no political party has yet outlined a clear alternative vision for the UK economy. The Government should spell out what they think a 'rebalanced' economy looks like - what would really count as 'success' for their innovation policies?

"We've got a clear opportunity to jump-start economic growth in the high-tech sectors this year, with the sale of the 4G mobile spectrum set to raise billions of pounds for the Treasury - that cash should clearly be reinvested in science and engineering to help create the UK's platform technologies of tomorrow."

Dr Mark Downs, CEO of the Society of Biology , said:

"The Society of Biology welcomes the Government’s commitment to further develop the UK’s research capacity whether through private or public sector investment. However, we urge the Government to continue to look at ways to restore the public funding of science that will otherwise be eroded by inflation over the current spending review period.

"The recognition given to the opportunity of synthetic biology is good news and we must collectively ensure that the benefits and research goals are fully and clearly communicated to the public."