Simon Kirby – 2014 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Simon Kirby on 2014-04-03.

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to promote innovation within industry; and if he will make a statement.

Mr David Willetts

This Government is fully committed to improving the UK’s innovation performance as an essential component of its growth plan. Innovation has long been, and will continue to be, a key driver of UK growth and economic prosperity, accounting for up to 70% of economic growth in the long-term.

The UK’s Industrial Strategy, a new long-term partnership between business and all parts of Government, has identified a range of opportunities to help create growth for the future, from developing new skills and securing critical investment, to commercialising our scientific research and inventions.

Support for technologies is one of five core themes of the Industrial Strategy. The Government has identified "Eight Great Technologies" where the UK’s science strengths and business capabilities combine to give us world-leading potential and announced an additional £600M investment to help support their development from laboratory to marketplace.

We have made the Technology Strategy Board the Government’s prime channel for supporting business-led technology innovation, which delivers a range of interventions in support of innovative businesses, such as the network of Catapult Centres and collaborative research and development competitions.

We have also put in place a range of wider policies to support innovation which include a tax regime that supports innovation, investment and enterprise that enables the UK to be internationally competitive, as the increasingly international nature of innovation means that it is crucial for the UK and its businesses and universities to remain active in the global innovation ecosystem.

We know that other leading innovators and the emerging economies are increasing their investment in science and innovation and that we need to strengthen our own performance in some areas and build on our acknowledged strengths to retain our position as one of the world’s leading innovation countries.

This is why we will be developing a new Science and Innovation Strategy to be published this Autumn. This will set out the future shape and scale of the UK’s science and innovation system and look at how we measure the system’s performance and the key challenges that the UK needs to address to maintain its global leadership position.