Tekcapital PLC (LON:TEK) has appointed former UK Minister for Universities and Science Lord Willetts to the board.
He was a minister from 2010 to 2014 and became a member of the House of Lords in 2015.
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In a statement, the intellectual property investment group noted that Willetts is now president of the Resolution Foundation, an independent think-tank focused on improving the living standards for those on low to middle incomes.
He is also an Honorary Fellow of Nuffield College in Oxford, a visiting Professor at King's College London and a member of the Council of the Institute for Fiscal Studies.
Willetts has written on economic and social policy and has two books under his belt, 'The Pinch', focused on intergenerational equity, and 'A University Education', on the role of athenaeums in society.
“We are very pleased to have Lord David Willetts join our board and believe that his extensive business and university experience, coupled with his knowledge regarding the commercialisation of scientific discoveries, will further enhance the board's skills and growth prospects for the company,” Tekcapital executive chairman Clifford Gross said in the release.