The false dichotomy between "the public sector" and "the private sector" leaves out the vital role that government has played - and must continue to play - in acting as financial backer and risk-taker in the most important innovations of our time that can help tackle the grand challenges facing us. Furthermore the lie ends up causing a situation by which risks are socialised while returns are privatised.

Entrepreneurship Guest Lecture Series Autumn 2009: Simon Barnes, Tate & Lyle Ventures