Innovation plays a key role in the creation of a knowledge based economy, and the long-term vision for UK science and innovation is set out in the Science and Innovation Investment Framework 2004-2014. Two of the main points of this framework are to maintain the delivery of world-class research, and to increase the links between business and the Research base. To achieve these goals, recommendations were taken into account from both the 2003 Lambert Review, which investigated the links between businesses and universities, and the 2002 Roberts Review, which looked at the supply of scientists, engineers and technologists.
More recently, in 2008, the Government published the White Paper ‘Innovation Nation’, which sets out the aim to make the UK the best place in the world to run an innovative business or public service
The UK government currently supports industrial R&D in a number of ways, including R&D tax credits, an incentive in the form of tax relief for companies of all sizes to raise their R&D investment levels. It also has various R&D grants for businesses, as well as knowledge transfer partnerships, which allow businesses to gain access to expertise from academic establishments.
The European Union also supports industrial research and development, through its framework programmes. Small and Medium sized Enterprises (SMEs) are actively encouraged to participate in the current framework programme, FP7, which started in January 2007. This framework programme is also designed to develop research which meets the needs of industry, through the work carried out by Technology Platforms and Joint Technology Initiatives. For more information about FP7 visit the cordis website.
For more information on how the UK government supports innovation, visit the Department for Business, Innovation and Skills website.
The Confederation of British Industry (CBI) is an independent organisation whose mission statement is to help create and sustain the conditions in which businesses in the United Kingdom can compete and prosper for the benefit of all. As part of this, the CBI helps to raise awareness of innovation as a key part of business success; promoting best practice, lobbying government and providing networking activities. For more information visit the CBI’s technology and innovation webpages.
NESTA is the National Endowment for Science, Technology and the Arts - a unique and independent body with a mission to make the UK more innovative. NESTA invests in early-stage companies, informs and shapes policy, and delivers practical programmes that inspire others to solve the big challenges of the future.
