We aim to accelerate UK economic growth by supporting business-led innovation. Our strategy explains how we do this.
Our strategy for 2011 to 2015 focuses on five areas.
Accelerating the journey between concept and commercialisation
The journey of an idea from concept to market can be uneven and indirect. We work to speed this up.
Connecting the innovation landscape
The innovation landscape can appear fragmented and difficult to navigate. We build strategic relationships with other innovation players, creating a more effective innovation environment.
Turning government action into business opportunity
Government can create opportunities for innovative businesses. We first identify how policy, standards, and regulation can stimulate innovation. Then we help government to act as ‘lead customer’ for businesses that can solve public sector challenges.
Investing in priority areas based on potential
We focus on industries and sectors which are most likely to generate UK economic growth. We address global challenges and opportunities – and on competencies and technologies which enable innovation in these areas. In making investments we apply four criteria:
- is there a large (global) market opportunity?
- does the UK have the capability to develop and exploit the technology?
- is the idea ‘ready’ – is the timing right?
- can we make a difference?
Continuously improving our capability
We develop our people and processes to be fast, flexible, and focused on business needs so that we are effective and deliver value for money.