Innovate UK publishes its plans for the future

A message from Tom Adeyoola, Executive Chair, on the next chapter for Innovate UK

The UK has one of the strongest research bases in the world. But we do not have as many globally scaled companies as that strength should produce. Why?

What is stopping our big ideas from becoming big businesses?

The UK excels at making discoveries, generating IP, spinning out and starting up. Yet when it comes to scaling, too many innovative businesses fail, stall or move overseas. Innovation is in our blood. We must focus on industrialising that innovation, because fast-growing businesses are built on innovation and are what drive real economic value.

That is the gap Innovate UK exists to close.

Our vision is a UK where breakthrough ideas — from research, from labs, from anywhere in this country — can become industry leaders. Industry giants. Where those with potential, realise the potential.

We are here to back the UK’s most promising innovators: to give them the support, validation, connections and capital pathways that, together with others, help them to start, scale and stay in the UK.

The world is becoming more uncertain and more competitive. But it is also filled with opportunities. The UK must seize the opportunities of the transformational technologies coming through today — not only using them, but creating and shaping them. Innovation, done right, can be the UK’s real strength.

That is what we are here to deliver. The opportunities ahead are significant and we invite you to join us.

I am delighted to be sharing with you today our plans for the future, set out in our new prospectus.

Source Link: https://www.linkedin.com/pulse/innovate-uk-publishes-its-plans-future-innovateuk-1k86e/