Full details of the lecture given by Lord Drayson, Minister of State for Science and Innovation at the Foundation of Science and technology (FST) event on Feb 4th, 2009 can be found on the FST website.

You can also read the responses by:

Lord Rees of Ludlow OM Kt PRS, President of The Royal Society
Sir Peter Gershon CBE FREng, speaking on behalf of The Royal Academy of Engineering
Dr Peter Ringrose, Chairman of the Biotechnology and Biological Sciences Research Council and Member of the Technology Strategy Board
Trudy Norris-Grey, Chair, Innovation and Science Committee of the Confederation of British Industry (CBI)

And there is video!