The Inaugural Sir Douglas Hague Lecture was presented by the Rt Hon Lord Paul Drayson of Kensington, Minister for Science and Innovation, at 6.30pm on Thursday 19 November 2009.
Lord Drayson's track record as a highly successful entrepreneur in both manufacturing and science based businesses speaks for itself.
Although his Ministerial role now precludes his direct involvement in enterprises, it has given him a wonderful vantage point from which to reflect on the opportunities and challenges the next generation of post credit crunch entrepreneurs will face.
Rt Hon Lord Paul Drayson of Kensington
Paul Rudd Drayson, Baron Drayson PC, PhD (born in 1960) was Minister for Science and Innovation in the Department for Business, Innovation and Skills, where he replaced Ian Pearson.
He graduated from Aston University in Production Engineering, followed in 1986 by a PhD in robotics. In 1993 he co-founded PowderJect Pharmaceuticals plc in Oxford which specialised in the production of vaccines, and was Chief Executive until 2003 when PowderJect was acquired by Chiron Corp.
In May 2005 Lord Drayson replaced Lord Bach as Parliamentary Under-Secretary of State and Minister for Defence Procurement and as Government Spokesman for Defence to the House of Lords.
In 2007 he was promoted to Minister of State for Defence Equipment and Support. In the same year he also became a Minister of State in the newly created Department for Business, Enterprise and Regulatory Reform, combining this with his role in the Ministry of Defence. In late 2007 he decided to stand down from ministerial responsibilities but rejoined the Brown Government as Minister of State for Science and Innovation in the Department for Innovation, Universities and Skills in October 2008 following a Cabinet reshuffle.
Between 2001 and 2002 he was the Chairman of the BioIndustry Association, and has been Chairman of the Oxford Children's Hospital Campaign since 2002. Since 2003, he has been the Entrepreneur-in-Residence at the Saïd Business School, Oxford University.