This document discusses technology ventures and innovation. It notes that successful future companies will "think big, start small, and move fast." Promoting the right economic environment, developing skills, identifying business models, and forging new partnerships across institutions can help ensure a successful transition. The UK has potential to generate additional economic value through information technology. Innovation requires strong intellectual property frameworks, access to capital, demand for products/services, and network infrastructure. New partnerships beyond technology transfer toward venturing are needed, with multi-disciplinary teams promoting adoption.