The plan explains how Innovate UK will support business innovation in the financial year 2016 to 2017.
This delivery plan outlines the main ways in which Innovate UK will invest around £561 million in helping businesses to innovate and grow in the financial year 2016 to 2017.
The plan explains a number of significant changes to the way we work. These include:
- a new sector focus that is easier for industry, investors and government to work with
- a 5-point plan to underpin activity across these sectors
- making our funding programmes clearer and easier to navigate
- strengthening the way we connect businesses
- increasing our regional presence
Since 2007, Innovate UK has invested £1.8 billion in innovation, which has been more than matched by the private sector. This investment has returned between £11.5 billion and £13.1 billion to the economy. We have supported innovation in 7,600 organisations, creating around 55,000 new jobs.