Now, the relatively low-tech industry of stitching clothes together is getting that same boost.

WSJ: Sewing Machines Go High-Tech

Hi-tech, high growth, low carbon, this is exactly the kind of industry ministers are desperate for.

BBC: Vince Cable opens Bristol carbon fibre research centre

This explanation would be bad news for proponents of market efficiency, but would be consistent with the picture of overall stagnation in the VC-funded part of the tech industry, since the driver of low returns would still be the limited number of good new tech ventures.

FORBES: Does Venture Capital Actually Make Any Money?