Blog posts

Meet the CSEP Team Series: Prof Rafael Palacios

What combination of skills and experiences best defines your journey as an aeronautical engineer?

I’m an aeronautical engineer — this means I am 10% electrical engineer, 30% mechanical engineer, 10% material scientist, 20% computer scientist, and 10% chemical engineer. And this is definitely one of those cases in which the whole is more than the sum of the parts.  I worked as engineer at Airbus for a few years before I started my doctoral research, and I joined Imperial a couple of years after.

What area of study is capturing your attention right now?

The problem that most interests me right now is understanding the impact that a warming atmosphere will have on future aircraft. This is the reverse of what we normally focus on (how aircraft emissions affect the climate, which of course is much more important!) and it is one that may have substantial practical implications as we develop more efficient aircraft. Very high efficiency is strongly linked to smooth operating conditions, and a very turbulent atmosphere will not help at all. The solutions I’m looking into need of advanced flight controls, which means my research now spans all the way from meteorology to embedded systems. I am very lucky to have many collaborators that are true experts on those areas.

What opportunities has CSEP provided for broadening your perspective in your field?

One of my current roles is to act as the director of the Brahmal Institute for Sustainable Aviation. This has been a fantastic opportunity to help shaping the research landscape at Imperial and beyond, and we have around 15 researchers now working on some of the hardest problems to achieve net-zero aviation. The institute challenged me to step outside the narrow confines of my research and explore the broader landscape of the aviation sector. The CSEP brought an opportunity to systematise that effort and look at the portfolio of technologies that have proposed for net-zero aviation from the point of view of their economic value to the UK, the policy bottlenecks that may impede their development, and the research that is still needed to make some of them work at scale.

Do you have a favourite paper, study, book or project that has influenced your career path so far?

The very first visit I made when I started at Imperial was to the site in Farnborough where Airbus was developing a solar-powered aircraft. This is an incredibly difficult problem: the wings need to be very large because the area needed by the solar panels, but there is still very little power coming from them to power the engines, so the aircraft has to be both extremely light and very aerodynamically efficient. The result is off the scales compared to any other aircraft! I tried to address some of those trade-offs with my very first research projects, which let me to develop new design and analysis strategies, which eventually shaped the rest of my academic career.

Summary of UK budget tax changes that affect knowledge-based entrepreneurial companies

by Daniel Green (Principal Fellow Entrepreneurship, Department of Bioengineering)

Last week’s UK budget had plenty that will (mostly) strengthen research-driven industries in the UK. One measure, a targeted cut in taxes on share trading, was foreshadowed in the CSEP report on the UK’s Heathtech industry. Other measures include more tax breaks for investing in later-stage private companies and, on the downside, a reduction in the tax benefits of investing through Venture Capital Trusts (VCTs).

As always with a UK budget, the small print in is what counts. Here’s a summary of tax-related measures that will affect all knowledge-based sectors where a thriving entrepreneurial environment is part the UK’s growth story. We briefly discuss non-tax measures after this section.

Four measures support that growth story, and two do not. First, the good news.

  1. The UK will be more attractive to early-stage investors through making UK IPOs more attractive. CSEP Healthtech report proposed the elimination of stamp duty tax from trading in shares post-IPO. The Budget announced this but limited to trading for three years post-IPO. This helps even start-up companies because since investors always have exit risks in mind.
  2. Mid-stage private medtech, biotech and deep tech companies will be able to raise private investments more easily from UK tax-paying investors. Knowledge-intensive companies will be able to raise money under EIS and from VCTs to a max of £40m (currently £20m). This will especially help companies in life sciences and deeptech where many years of product development are needed before revenues overtake costs. The annual max rise from £10-£20m.
  3. Attracting skilled employees into high-risk businesses will become easier (1). Entrepreneurial companies use shares and options to incentivise teams, and now companies up to 500 employees (250 previously) will be able do this under a favourable tax regime.
  4. Attracting skilled employees into high-risk businesses will become easier (2). These tax breaks will remain if shares are sold via a new a new form of share trading called PISCES – an embryonic alternative to selling shares to sales on a recognised stock exchange.

And two measures that do not support the growth story (but may increase government tax revenues).

  1. Founders and potentially investors will pay more tax on some exits. Business Asset disposal relief (formerly Entrepreneurs’ Relief) will go up from 14% to 18%.
  2. Some investors will pay more tax when they invest. Income tax relief for VCTs will fall from 30% to 20%.

On a final positive note, in addition to these tax-related changes highlighted above, the government announced measures to increase and speed up grant funding (through UKRI) and equity investment (through the British Business Bank).

References:

CSEP Cross-Institutional Partnerships: The Centre for Emerging Technology and Security (CETaS)

What is the primary research theme guiding this collaboration?

This project analyses the current UK AI assurance marketplace specifically for the defence and national security (D&S) sector. A thriving AI assurance sector has the potential to enable AI adoption and become a key driver of economic growth in the UK. We were keen to describe the current state of AI assurance within D&S organisations, highlighting strengths, challenges and possible mitigations to enable safe and effective AI adoption. Ultimately, the paper provides lessons from the D&S sector to assist the growth of a robust AI assurance marketplace across the broader UK economy.

Can you outline the ways this project supports CSEP’s goals?

This research is aligned with CSEP’s mission of improving UK competitiveness as it will be essential in the coming years to focus on the role of AI to boost economic growth. By partnering with CETaS and its expertise on AI and Defence and National Security (D&NS) topics, this project will demonstrate both centres’ commitments to advancing robust economic growth and AI safety as mutually reinforcing goals. We also anticipate synergies with other CSEP projects, such as UK’s cybersecurity or future collaboration on a sector plan for growing assurance in D&S for national benefit.

 How might the research influence policy, industry, or society?

The Department for Science, Innovation and Technology (DSIT) has identified growing the UK’s third-party AI assurance sector as a key priority within the AI Opportunities Action Plan. A thriving assurance marketplace would also help deliver the UK Government’s mission to kickstart economic growth through the adoption of AI technology, as stated in the UK’s Prosperity Mission. This research helps to support the UK government’s AI ambition by identifying: (i) key drivers of demand and approaches to AI assurance in this sector, (ii) supply and demand limitations, and (iii) recommendations to grow a thriving and robust AI assurance marketplace.

Are there any early findings or achievements that stand out?

We found it interesting that there is strong recognition across defence and security (D&S) for AI assurance, yet the level of maturity across organisations varies widely. We identified significant pockets of excellence where good practice is well established, but there remains an open question about how much to focus on in-house or external assurance moving forward. D&S also provides critical lessons for other UK sectors, such as articulating sector specific requirements, developing initiatives to upskill key stakeholders, and creating certification schemes for AI assurance providers.

 

CSEP Cross-Institutional Partnerships: University of Sussex Business School

Finding and fixing leaks in the UK’s pharmaceutical pipeline

Professor Michael Hopkins (SPRU, University of Sussex Business School)

Dr Philippa Crane (SPRU, University of Sussex Business School).

How did you come to this topic?

We began working together over 15 years ago at the Science Policy Research Unit (SPRU), University of Sussex, researching trends in the financing of the UK’s emerging small innovative life sciences firms and publishing on this topic for academic and policy audiences. At the time, soon after the 2008 financial crisis, the UK was just putting together its first sector-specific industrial strategies. Last year, when we heard about CSEP’s research programme, we thought our deep sector-specific experience and prior research could be of interest in understanding the progress of the sector and how well the latest iteration of the Government’s industrial strategy might support these firms.

What is the focus of your project under this collaboration with CSEP?

Our research looks back to the emergence of the UK’s very first “biotech” firms, in the early 1980s, and follows the growth of what are now well over seven hundred firms that all share a common purpose – the desire to bring innovative new medicines to market. Our data captures whether these companies are still active, and if not, what happened to them, thereby charting the dynamics of the industry, including how the introduction of successive industrial strategies has impacted these dynamics.

For instance, while scaling up of UK based SMEs is an explicit objective of successive UK Life Sciences industrial strategies (2016 and 2025), which direct policy levers can policy makers use in the face of the many acquisitive overseas firms that pick off the UK’s leading firms through acquisition?

How does this research align with CSEP’s mission?

A key theme in CSEP’s mission is to show how the UK can build on science, engineering and technology capabilities to improve the competitiveness of the economy. Our research is situated within the context of the UK’s aspiration for R&D-driven economic growth, which rests disproportionately on the nation’s ability to translate biomedical research into new pharmaceutical products and retain value within the UK.  CSEP’s 2024 report on the performance of the Life Science sector notes that ‘while the UK performs well on basic science, attention is needed to grasp the opportunities and translate potential innovations into commercialised products and services’ (CSEP 2024:39). Our study takes a pipeline perspective to determine how and why potential UK economic returns from the life sciences ‘leak away’, and what could be done to improve the situation for the benefit of UK PLC, economic growth and productivity.

What makes this work innovative or timely?

The latest UK Industrial Strategy sets out a ten-year goal for the country to become Europe’s foremost life sciences hub and to rank third globally, behind only the US and China. Yet there is little longitudinal research that has actually looked at how the cohorts of UK firms emerging over the years have performed. Our research can show this performance, which we will share with stakeholders and together we can develop lessons based on previous governments’ attempts to improve the performance of the UK biotech sector, and seek to influence how the present industrial strategy could be further developed.

 

Meet the CSEP Team Series: Dr Diego Freire Ordonez

Could you summarise your career journey so far?

I’m a Chemical Engineer with a background in process systems engineering, specialising in the techno-economic and environmental assessment of low-carbon technologies. My career has centred on understanding how we can design and scale sustainable production pathways for fuels and chemicals, particularly those derived from CO₂ and renewable energy. Before joining Imperial College London, I worked across both industry and academia—supporting projects in oil and gas, environmental regulation, and energy transition technologies for organisations in the UK, Europe, and Latin America. I hold a PhD in Chemical Engineering from Imperial and postgraduate degrees in energy and industrial management.

How do you see your work at CSEP contributing to real-world net-zero energy solutions? 

At CSEP, I have started working on the techno-economic assessment of different pathways for renewable syngas production. My work involves developing detailed process models and analysing the economic viability of emerging technologies that could replace fossil-based syngas in the future. What excites me most is the opportunity to explore pathways that are not only technically innovative but could also make a real contribution to a net-zero energy system. Seeing how small changes in design or integration can dramatically affect cost and sustainability is incredibly motivating.

What specific research topics or areas are you most passionate about?

I’m particularly passionate about CO₂ utilisation and the broader field of e-fuels—technologies that convert renewable electricity and captured carbon into low-carbon fuels and chemicals. I enjoy working at the intersection of engineering, economics, and environmental impact, where decisions are informed by a full systems perspective. Understanding how emerging technologies can scale, integrate into existing infrastructures, and ultimately compete with fossil-based processes is a challenge I find essential for the energy transition.

How does your focus on scale-up and integration of emerging technologies reflect CSEP’s vision of enabling sectors to innovate and grow?

I see my role as helping to deepen our understanding of the technologies that could shape the next generation of low-carbon fuels and chemicals. By analysing how emerging processes perform in practice—economically, technically, and environmentally—I hope to provide clarity on what is genuinely feasible as we transition away from fossil-based systems. My aim is to help generate insights that support better decisions, encourage innovation, and ultimately move us closer to a cleaner and more sustainable energy landscape.

 

Meet the CSEP Team Series: Dr Semra Bakkaloglu

Could you tell us a bit about your current role and how your previous experiences have shaped your research focus?

I am the Lord Sainsbury Fellow (Fine Chemicals) at CSEP, with a background in environmental and chemical engineering. My work bridges academia and industry, focusing on methane emissions, negative emission technologies, life cycle sustainability assessment (LCSA), and energy systems modelling. Before joining CSEP, I worked on assessing methane emissions, conducting sustainability assessments of olefin production, and developing market-based mechanisms for decarbonising the chemical industry — experiences that have shaped my broader interest in driving systemic change across energy and chemical value chains.

How do you see your work influencing not just sustainability outcomes, but also the economic competitiveness and global position of the fine chemicals industry?

At CSEP, I’m developing frameworks to accelerate the transition of the fine chemicals industry, focusing on industry-led sector strategies that address immediate challenges while creating a supportive ecosystem for long-term growth. I’m particularly excited about connecting rigorous research with practical industrial applications — building evidence to support cleaner, more circular fine chemical manufacturing and to guide future policy that fosters innovation and competitiveness. I’m also passionate about exploring how economic and business environments can be strengthened to enhance the industry’s GVA and global positioning.

How does your role at CSEP align with the Centre’s broader mission ?

My role at CSEP allows me to contribute to the Centre’s mission of advancing evidence-based sustainability strategies. Through my work on fine chemicals sector strategy, I aim to bridge scientific research, technology development, and policy design — ensuring that our insights not only inform but also enable real progress toward a sustainable and resilient fine chemical industrial future.

Looking ahead, what kind of impact do you hope your work at CSEP will have on the fine chemicals sector?

I hope to further strengthen the link between academic research and its practical implementation in the fine chemical sectors. CSEP offers a unique platform to collaborate across disciplines and engage with industry leaders, which I believe will help me grow as both a researcher and a change-maker in sustainable innovation.

How do you unwind or recharge outside of work?

Outside of research, I enjoy creative and outdoor activities that help me recharge. I’ve loved skiing since childhood and find theatre and drama to be powerful ways to connect and express ideas beyond academia. I also enjoy long walks, photography, and exploring new places, which often inspire fresh perspectives and creativity in my work.

 

Meet the CSEP Team Series: Dylan Booth

Could you share more about your current research projects and highlight the part that you find most engaging or innovative?

The work I am conducting at the moment entails spatial modeling the Bristol Channel – a body of water that I grew up alongside off the coast of Clevedon. Once simply a familiar sight, I now view it as a remarkable natural resource bisecting England and Wales. If we harness its enormous tidal range, the Bristol Channel could generate gigawatts of predictable renewable energy.

My research focuses on enhancing the environmental compatibility of tidal range infrastructure, by modeling opportunities of coastal habitat conservation, particularly for saltmarsh development. One of the most exciting aspects of this work is estimating carbon sequestration over time across vast sections of coastline. By linking these findings to carbon-credits valuation, the project highlights how tidal energy schemes can economically incentivise conservational practices, making them a transformative opportunity for green-financing.

How do you envision tidal range energy shaping the future of sustainable energy policy?

Among the many research topics of CSEP, tidal range is among the most pertinent for offsetting national carbon emissions. It is important to remember that the benefits of having a robust economy are diminished if we cannot maintain the health and productivity of our natural heritage. For this reason, I believe it is important to research mechanisms that support both economic and ecological stability. My research combines these objectives, providing economic incentive into a scalable industry through the lens of environmentalism.

What attracted you to working at CSEP?

While studying the MSc in Environmental Technology, the word ‘Interdisciplinary’ cropped up countless times. Initially, I was dubious about the significance of this concept, having come from a background in Palaeontology, I was used to working in my comfortable silo. However as the weeks went by it was clear to see that wicked problems required global, multi-sectoral perspectives. Interdisciplinarity inspired my MSc thesis, which thankfully was recognised by CSEP. Despite the transition from the ‘Centre of Environmental Policy’ to the ‘Centre for Sectoral Economic Performance’, interdisciplinarity maintains its position in the faculties agenda.

What experiences outside of your career have had the biggest impact on your personal growth?

I have been playing guitar for most of my life and I particularly enjoy recording songs for my friends and family. I am also an avid rower, having been a rowing coach for two crews at varying ages on the coast of Hampshire. I enjoy long hikes, having recently summited Kilimanjaro with a group of students for Teenage Cancer Trust. Raising money for charity isn’t new to me however, as of June 2024, I set up a fundraiser for Pancreatic Cancer Research for a cycle from London to Paris. I believe being creative in your personal life is directly proportional to a healthy and productive work life, therefore I aim to further integrate my creativity here at CSEP.

Meet the CSEP Team Series: Prof James Moore Jr

Can you tell us a bit about your background and how you became involved in the CSEP project on the UK MedTech sector?

I trained as a mechanical engineer and then pursued a PhD in biomechanics. Specifically, looking at the role of blood flow in disease development and treatment. That led me into inventing and developing cardiovascular implants. I was part of a few start-ups early in my career and continue to develop devices. Most of my research and development efforts these days is focused on the lymphatic system. For example, we are developing a device to prevent/treat lymphoedema in the arms of breast cancer survivors (lymphamotus.com). I teach medical device entrepreneurship and fluid mechanics in the Department of Bioengineering at Imperial. All this provided some good background to get involved in CSEP to analyse the UK MedTech Sector.

What inspired your involvement with CSEP? 

The potential to have a positive impact on the UK MedTech sector is exciting, and my main motivation for working at CSEP.  It is a strong but under-appreciated sector of the UK economy, so there is a lot of potential already.

What drew you to take on the challenge of analysing the UK MedTech sector, and how did that experience shape your perspective on the intersection of technology, business, and policy?

I was fortunate to be invited to lead the analysis of the UK MedTech sector back in 2020.  That work was generously supported by Lord Sainsbury.  I had to climb quickly up the learning curve on economics!  Along with others at Imperial that did reports on the BioPharma and Telecomms sectors, those projects led to the establishment of CSEP.  I am intrigued by the vision to have technical and business experts collaborate to improve productivity and societal benefit.  The MedTech activity has led to the formulation of a strategy to grow the entire HealthTech* sector, written in collaboration with the Association of British HealthTech Industries.  That is the first strategy document produced by CSEP, and I look forward to seeing more strategies being developed for other sectors.

*HealthTech refers to technologies that might enable anyone to monitor or improve their health, whereas MedTech refers to the subset of those technologies that claim medical benefit and therefore require regulatory approval.

Could you share some of the major inspirations that have guided your career and intellectual interests?

My career has benefited from the influence of many scientific discoveries, technological developments, and even other musicians.  It’s difficult to name a single one but a fantastic book that combines all these interests is “This is Your Brain on Music” by Daniel Levitin.

What are your interests outside your work?

Music is my main hobby.  I’ve wanted to be a musician since I was about 10 years old, so you could say that I am still trying!  I play several instruments and sing in two different bands.  One is a group of biomechanics profs that has been playing at conferences for over 20 years.  The other is our departmental band that plays at functions like the Christmas party.  It’s all good fun.  I’m also working on an album of mainly original music.  Otherwise, I used to play Ultimate Frisbee competitively.

Meet the CSEP Team Series: Dr Arianna Gentilini

Can you describe your research journey and the key themes that define your work in health economics and public policy?

I am a Research Associate in the Economics and Public Policy department at Imperial College London, jointly affiliated with the Centre for Sectoral Economic Performance (CSEP) and the Centre for Health Economics & Policy Innovation (CHEPI). I completed a PhD in Health Policy and Economics at the LSE, where my dissertation examined how patient organisations shape pharmaceutical innovation and access. Methodologically, that work combined quantitative analyses with qualitative evidence to capture how incentives, information, and advocacy intersect across the R&D and reimbursement lifecycle. I also interested in how governance processes can be embedded within the pharmaceutical sector, particularly around transparency requirements and where they fall short. My research has been published in The Lancet Oncology, Social Science & Medicine, Value in Health, and BMJ Open, and I continue to collaborate with colleagues across disciplines to address policy-relevant questions in this space.

Your work bridges health economics and innovation policy—how are you currently exploring the role of emerging technologies, like AI, in shaping pharmaceutical R&D productivity and access to medicines? 

I am currently working in a CSEP–funded programme on pharmaceutical R&D productivity that analyses how technology adoption and market structure shape drug development performance in the UK life sciences sector and internationally. I am also supporting a European Commission–funded project, called Hi-PRIX, which investigates how incentives for innovation can be aligned with equitable and timely patient access to effective medicines. A particularly interesting aspect of this agenda is the opportunity to explore the rapidly evolving AI tools landscape in the pharmaceutical sector, for example, evaluating how different AI tools are being integrated across target identification, trial design, and evidence synthesis, and what this implies for productivity. The sector is experiencing a period of rapid change, and I feel it is extremely important to think how the research we produce can be translated into recommendations that regulators and policymakers can act on to improves people’s health.

Your work touches on several aspects of the pharmaceutical sector. Can you tell us about the key themes or focus areas of your research, and how they inform policy and practice in health economics?

My work spans three interlinked strands: (i) pharmaceutical innovation and R&D productivity, including the drivers of success and attrition across the pipeline; (ii) regulation and health technology assessment (HTA), with an emphasis on evidence standards, uncertainty, and value for money; and (iii) the commercial determinants of health, particularly how market power, pricing practices, and strategic behaviour shape access and affordability. I am especially interested in how emerging biomedical technologies and stakeholder incentives interact to determine which medicines are developed, how they are evaluated, and how quickly patients can access them.

How do you see your role contributing to CSEP’s mission?

CSEP’s mission is to generate sector-level insights that inform policy and practice. My contribution is to bring an applied empirical toolkit, econometrics, document and text analytics, and policy evaluation, to help diagnose bottlenecks in drug development and to understand which policy levers are most likely to improve innovative output and patient access. I also enjoy collaborating across disciplines and supervising junior researchers, which helps grow CSEP’s capacity to deliver timely, policy-relevant research.

In what ways do you hope your work at CSEP will contribute to improving how health systems balance innovation, affordability, and access to medicines?

First, to deepen the evidence base on how technology, organisational capabilities, and market design impact biopharma productivity in ways that are compatible with affordability and equitable access. Second, to strengthen the bridge between research and implementation by working closely with partners in government and industry so that our findings inform regulation, HTA processes, and funding models. An additional benefit of being at CSEP is exposure to diverse methodological approaches across sectors. For instance, AI-enabled techniques employed by colleagues analysing firm-level data in the aviation sector have proven directly transferable to one of our pharmaceutical projects, which I believe is a great example of how cross-sector collaboration advance research.

Meet the CSEP Team Series: Dr Joachim Taiber

We’d love to hear a bit about you — could you share your background and professional experience?

My name is Joachim Taiber and I was born and raised in Germany.

All my academic training was performed in Switzerland at ETH Zurich where I studied Mechanical Engineering and Computer Science resulting in a PhD degree for technical sciences. After my studies I spent some time in a software start up in Zurich and then joined BMW Group in Munich to work as an automotive engineer. This career path led me to work in the US to engage in the development of an automotive engineering campus in South Carolina where BMW was a key investor which resulted in an academic engagement with Clemson University as a research professor. As a spin-off from working at Clemson University I led the development of the International Transportation Innovation Center (ITIC) which is an automotive proving ground for connected, automated and electrified vehicles. The center became the founding member of the International Alliance for Mobility Testing and Standardization (IAMTS) which I developed in the role of a managing director which brought me back to Europe as the organization is headquartered in Vienna. Imperial became a member of IAMTS which helped to develop the relationship to work with Dyson School of Engineering. I joined Imperial first as visiting professor in 2024 and became a advanced research fellow at CSEP shortly after where I am responsible for automotive affairs.

What are you working on right now, and what part of your work do you find most exciting?

I just completed working on the Automotive Sector Study and truly enjoyed learning more about the UK’s role how it could engage in transforming the future of mobility.

What drew you to work at CSEP, and how do you see your role contributing to its mission?

I was attracted by the opportunity to leverage my knowledge in the sector and contribute to its future in collaboration with colleagues that share my passion for mobility.

I’m particularly motivated by the chance to engage in mobility-related projects that create added value for the UK and its people as key source for innovation.

What do you hope to learn or gain from your time here?

I am eager to learn as much as possible for the excellent research and academic environment and help build meaningful relationships with industry and academic partners to work on transformative projects.

Do you have a favourite paper, study, book or project that has influenced your career path so far?

The Feynman lectures on physics.