Jeremy Hunt to announce US-inspired science and technology scheme

Plan to nurture homegrown investors focused on ensuring UK innovations have commercial payoff

• Larry Elliott: Hollywood ending unlikely for Jeremy Hunt

Jeremy Hunt will use his autumn statement to announce a US-inspired scheme aimed at developing homegrown science and technology investors focused on ensuring UK innovations have a commercial payoff.

Amid concern in government that Britain too often fails to exploit scientific breakthroughs, the chancellor is expected to announce plans for a fellowship programme that will train a new generation of science and technology venture capitalists.