On 22 July, the government published their Innovation Strategy. The strategy aims to boost private sector investment in R&D across the whole of the UK and make the UK a global hub for innovation.
The strategy consists of plans in four areas, which will support the achievement of that vision:
- Unleashing business – fuelling businesses who want to innovate by ensuring effective access to private and public investment
- People – creating the most exciting place in the world for talented innovators
- Institutions and places – ensuring R&D institutions serve the needs of businesses and promoting innovation in places across the UK
- Missions and technologies – stimulating innovation in technology and missions that will provide the UK with a strategic advantage as we tackle some of our greatest challenges
Business Secretary Kwasi Kwarteng said:
“The UK can look back on a proud history of changing the world through innovation. From the industrial revolution to the vaccine development of the past year, the impact on our everyday lives is undeniable.
That spirit of discovery is still alive in this country today, but we have not always turned our genius for innovation into jobs and companies here in Britain.
The countries that secure leadership in such transformational technologies will lead the world, enjoying unrivalled growth, security and prosperity for decades to come – and it’s our job to ensure the UK keeps pace with the global innovation race.
Through this long-term plan, we want to rekindle our country’s flame of innovation and discovery, helping businesses to seize the vast opportunities that innovation can bring.
If we get this right, we can build the foundations for the new industries of tomorrow, and ensure British firms are at the front of the pack to turn world-leading science into new products and services that are successful in international markets”
To download the full Innovation Strategy, visit gov.uk.