Press release

Business-led innovation at the heart of the industrial strategy

Innovate UK welcomes Prime Minister's £2 billion investment in research and development

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Welcoming the news that the Prime Minister is announcing an additional £2 billion investment in research and development, Chief Executive of Innovate UK Dr Ruth McKernan said:

The Industry Challenge fund will put business-led innovation at the heart of the industrial strategy. It will help deliver business growth for companies across the nations and regions, supporting the industries of tomorrow, boosting productivity in our existing areas of strength and help us realise commercial benefit from our world class research base.

As the business-facing part of UK Research and Innovation, we see this funding as a huge vote of confidence in the game changing opportunity for businesses right across the UK to foster a culture of innovation, so that no matter where you are, or your level of skills, you can be supported to get your innovative idea off the ground to grow and scale your business.

Published 21 November 2016