“More ideas come out of this tiny packed little country than anywhere else, but it feels like it’s fading.”

Those were Sir Bob Geldof’s words to a crowd of 3000 delegates made up of scientists, artists, politicians and entrepreneurs at NESTA’s Innovation Edge conference this week.

“Never have innovation, new ideas and entrepreneurialism been more required than now,” he insisted. “We need our social entrepreneurs to be innovatory and progressive. We need our politicians to recognise it and we need our financial institutions to support it. Is that happening? Not enough.”

According to Geldof, we need to remain restless if we are to foster a thriving entrepreneurial spirit. Entrepreneurs are by their very nature unsatisfied with the status quo and therefore think of ways to change it.

But does Bob have a point? Is the UK losing its innovatory edge? Are we really a nation of creative, pioneering entrepreneurs simply too scared to do anything about our ideas?

Based on some of the speakers and exhibitors I saw at the conference, I’d have to give a big resounding no. We could still be doing more of course and during his 420 seconds on stage the PM made his pledges.

“I pledge to you whether it’s science policy, education policy or policy towards the creative industries or simply our attitude to regulation and tax in the future that we will do our best to break down all the barriers that exist.”

Ok Gordon, let’s see what you can really do.