UK Innovation Strategy

TARGET GROUP: PRIVATE SECTOR

OBJECTIVES

·        To identify the strategies boosting private sector investment across the country by creating the right conditions for all businesses.

SUMMARY

Innovation is crucial to the UK building back better. It is at the heart of ‘Build Back Better: our plan for growth’ and so much else we want to achieve, from fighting coronavirus (COVID-19) to achieving net zero and building Global Britain. Boosting innovation in the private sector is an essential part of the UK’s future prosperity and key to achieving UK objectives to be a force for good on global challenges around climate, biodiversity, prosperity and security. We are calling on businesses to invest in innovation, getting British firms to the front of the pack. The different elements that characterise innovation – discovery, invention, development, and adoption – cannot be readily and cleanly separated. We need the whole ecosystem of businesses, government, R&D-performing organisations, finance providers, funders, international partners and others to come together. The 2020 R&D Roadmap set out the importance of this broad system and how we will nurture it. This Strategy focuses on how we support private sector innovation by making the most of the UK’s research, development and innovation system.

REFERENCE

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1009577/uk-innovation-strategy.pdf