In response, the government has produced a brochure for science and technology experts to put them in touch with key contacts in the counter-terrorism community.
Lord West said he believed the UK's status as a "leading innovator" in defence and security strategy should be harnessed to prevent terror attacks.
He added: "The UK currently faces a real and serious threat from terrorism and we need to utilise our position as a world leader in science and technology to counter this.
"We need to match products and ideas to problems, which is why we are actively inviting people to join us and share expertise."
Dr Tobias Feakin, director of homeland security at the Royal United Services Institute, said it was important to keep pace with terrorists who did not face the "barriers in place to harnessing new technologies that governments do".
He told the BBC News channel: "New technologies have been harnessed by terrorist groups very, very quickly because they're very adept at changing and adapting.
"Governments have to actually begin to change their processes so they can adapt to new technology types in a far more quick manner than perhaps they did in the past."
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