How does the UK turn world-class ideas into world-class companies, without selling the best outcomes abroad?

In this episode of Oxford+, host Susannah de Jager speaks with Lord William Hague, Chancellor of the University of Oxford and former UK Foreign Secretary, about the UK’s scale-up gap and what it will take to build an innovation economy that keeps more value at home. They discuss why universities sit at the centre of growth, how pension capital and other long-term investors can help close the funding gap, and why procurement and slow decision-making can quietly kill promising companies before they reach commercial scale.

The conversation lands in the reality of the Oxford-Cambridge Growth Corridor, which government has positioned as a long-term national growth project. Recent reporting on the corridor highlights the scale of the ambition and the industries driving it, alongside the claim it could add £78bn to the economy by 2035. From foreign takeovers of UK spinouts to the need for faster infrastructure delivery, this episode offers a clear, systems-level view of what Oxford’s ecosystem reveals about the UK’s economic future.

(00:00) - Welcome to Oxford+
(02:26) - What the Chancellor of Oxford Actually Does
(07:36) - Oxford’s Global Position and Talent Flywheel
(09:57) - The Oxford-Cambridge Growth Corridor and the Need for Speed
(14:05) - The Scale-up Capital Gap and Pension Capital
(15:09) - Unicorn Spinouts, Foreign Buyers, and Ownership
(19:47) - Procurement as a Hidden Blocker to Innovation
(23:34) - Why Britain Moves Slowly and What Could Change
(27:19) - The Ellison Institute of Technology and Oxford’s Next Phase
(31:22) - US Politics, Talent Flows, and Global Competition
(38:44) - AI, Education, and Avoiding Brain Rot
(40:05) - Social Media, Youth Mental Health, and Regulation

Lord William Hague: Lord William Hague of Richmond is the Chancellor of the University of Oxford and a former Leader of the Conservative Party. He studied PPE at Magdalen College, Oxford, later completing an MBA at INSEAD, and served as MP for Richmond for 26 years, including as Leader of the Conservative Party (1997–2001) and as Foreign Secretary (2010–2014). As Minister for Disabled People, he was responsible for the Disability Discrimination Act 1995, and he co-founded the Campaign to Prevent Sexual Violence in Conflict. He was elected Chancellor of the University of Oxford in November 2024 and took up his duties in February 2025.

Connect with Lord William Hague on LinkedIn

Susannah de Jager: Susannah is a seasoned professional with over 15 years of experience in UK asset management. She has worked closely with industry experts, entrepreneurs, and government officials to shape the conversation around domestic scale-up capital.

Connect with Susannah on LinkedIn and Subscribe to the Oxford+ Newsletter for Exclusive Content

Oxford+ is hosted by Susannah de Jager and supported by Mishcon de Reya, HSBC Innovation Banking, and James Cowper Kreston.

Produced and Edited by Story Ninety-Four in Oxford.