British households would be £5,000 richer if we were more innovative. Let’s unleash our talents | Gordon Brown

We have a deep reservoir of assets, but struggle to turn small companies into global success stories. Innovation needs to be at the heart of government policy

• Gordon Brown was UK prime minister from 2007 to 2010

The coming 10 years are almost certain to be the decade that sees the greatest scientific breakthroughs in a century. The question is whether advances now under way in AI, quantum computing and biology can address cancer, find ways to treat or prevent dementia, and overcome the growing resistance to antibiotics. Can we find sustainable ways to address our energy needs and protect the environment at the same time? Can AI transform the way we deliver education, health and social care to the benefit of millions, as well as advance modern manufacturing strength? And what role can Britain’s inventors, investors and industrialists play in developing these transformative technologies?

While the US and China are the world’s obvious innovation powerhouses, the UK also has enormous assets, as the Innovation Nation Conference in Manchester addressed by the prime minister, Andy Burnham, will hear today. We are home to four of the world’s top 10 universities and 16 of the top 100, five of which are in Europe’s top 10 for spin-outs, startups based on intellectual property produced through a university’s research. With less than 1% of the world’s population, the UK produces 6% of the world’s research papers, nearly 9% of citations and 12% of the most highly cited research.

Gordon Brown was UK prime minister from 2007 to 2010