New strategy on innovation points the way forward but questions on investment remain

CaSE has responded to the publication of the government’s Innovation Strategy and its People and Culture Strategy. 

Innovation Strategy

The Innovation Strategy outlines how the government will focus its efforts to support businesses and institutions at the cutting edge of innovation.

The strategy includes actions that CaSE has previously recommended to encourage private investment in R&D in its report, Building on Scientific Strength, including:

• embracing innovation in new areas of regulation
• creating an online innovation hub for businesses to be able to access support in one place
• using government procurement to drive innovation
• working with pension funds to unlock investment opportunities

You can read further analysis of what’s in the Innovation Strategy here.

Commenting on the strategy, Dr Daniel Rathbone, CaSE Assistant Director said:

“The publishing of today’s innovation strategy shows that the potential of research and innovation to super-charge the UK economy, bringing prosperity to every part of the UK and transforming lives is being taken seriously at the highest levels of government. We welcome the steps being taken to encourage business investment in innovation, many of which have been previously called for by CaSE.

The evidence shows one of the best ways government can give confidence to businesses to invest in research and innovation is to set out a clear timeline and plan for how it will reach its target of investing £22bn in R&D by 2024/25. The upcoming Spending Review is a perfect opportunity for the government to set out it’s long term plan for investment.

To ensure success, BEIS will need to work hard to ensure that the whole of Whitehall buys into the strategy. We look forward to working with all areas of government to secure its ambitious goals for UK research and innovation.”

Also published today was the Government’s People and Culture Strategy.

Commenting on the strategy, Dr Daniel Rathbone, CaSE Assistant Director said:

“We strongly welcome the Government’s new People and Culture strategy: to meet the target of 2.4% of GDP invested in R&D, people will be crucial and a large expansion in the R&D workforce will be needed. This is also a great opportunity for the Government and the Research Sector to work together to create a more open, diverse and inclusive research workforce – and the strategy takes some welcome first steps in that direction.

The strategy aims for people from all backgrounds to be inspired into careers in research and innovation. This begins with inspiring all young people to see that a career in STEM can be for them. CaSE’s Inspiring Innovation report sets out steps, such as the importance of providing teachers with high-quality Continuing Professional Development, that the UK government and devolved administrations need to take to ensure that all young people receive high-quality science education and careers guidance.”

Notes

1. Earlier this year, CaSE published Inspiring Innovation, a briefing putting forward recommendations for the UK and devolved governments to enable them to provide high-quality science education in primary and secondary schools across the UK.
    
2. Read CaSE’s policy review on improving diversity in STEMM.