Mr. William Beausang:

The experience internationally is that, unless there is much work done through the commercialisation process, many good and promising discoveries never see the light of the day. To be clear, Government policy is to encourage commercialisation of intellectual property but within a proper framework. That is very much the issue we are talking about in the context of the Comptroller and Auditor General’s report with appropriate oversight of that commercialisation process and effective and rigorous management of conflict of interest. The framework to achieve that is work in progress. We have a new intellectual property protocol sitting with the Department of Business, Enterprise and Innovation addressing the specific larger weakness identified in the KTI-HEA report. That was a framework for spin-outs, which relates to the FeedHenry Limited issues and more generally.