The UK Innovation Strategy sets out the government’s vision to make the UK a global hub for innovation by 2035.
Pillar 1: Unleashing Business – We will fuel businesses who want to innovate.
• Increase annual public investment on R&D to a record £22 billion.
• Reduce complexity for innovative companies by developing an online finance and innovation hub between Innovate UK and the British Business Bank.
• Invest £200 million through the British Business Bank’s Life Sciences Investment Programme to target the growth-stage funding gap faced by UK life science companies.
• Consult on how regulation can ensure that the UK is well-placed to extract the best value from innovation.
• Form a new Business Innovation Forum to drive implementation of this Strategy.
Pillar 2: People – We will make the UK the most exciting place for innovation talent.
• Introduce new High Potential Individual and Scale-up visa routes, and revitalise the Innovator route to attract and retain high-skilled, globally mobile innovation talent.
• Support, through Help to Grow: Management, 30,000 senior managers of small and medium-sized firms to boost their business’ performance, resilience, and growth.
Pillar 3: Institutions & Places – We will ensure our research, development and innovation institutions serve the needs of businesses and places across the UK.
• Undertake an independent review, led by Nobel Laureate Professor Sir Paul Nurse, Director of the Francis Crick Institute, looking across the landscape of UK organisations undertaking all forms of research, development and innovation.
• Allocate £127 million through the Strength in Places Fund to develop R&D capacity and support local growth across the UK.
• Invest £25 million of funding to the Connecting Capability Fund to help drive economic growth through university-business innovation.
Pillar 4: Missions & Technologies – We will stimulate innovation to tackle major challenges faced by the UK and the world and drive capability in key technologies.
• Establish a new Innovation Missions programme to tackle some of the most significant issues confronting the UK and the world in the coming years.
• Identify the key seven technology families that will transform our economy in the future.
• Advanced Materials and Manufacturing
• AI, Digital and Advanced Computing
• Bioinformatics and Genomics
• Engineering Biology
• Electronics, Photonics and Quantum
• Energy and Environment Technologies
• Robotics and Smart Machines
• Launch new Prosperity Partnerships to establish business-led research projects to develop transformational new technologies, with £59 million of industry, university and government investment.
How Infintec can help
Our expertise lies predominantly in the AI, Digital and Advanced Computing technology family. We help companies navigate their way through the complex and evolving innovation support landscape, maximise their funding opportunities and scale profitably.
Why not talk to us.