This review of the IC tomorrow programme includes an analysis of its potential for growth and its future impact on the UK economy.
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Innovate UK commissioned CFE Research to carry out a review of the IC tomorrow programme.
The aim was to explore and provide insights into:
- the benefits of the programme
- the barriers it helps businesses to overcome
- the parts of the programme that have been the most valuable
- the key lessons to learn in linking small companies with larger ones
- the areas where Innovate UK adds the most value
- the suitability of the current system of funding and the possibility for change
- opportunities for scaling up without losing value
Some of the report’s findings:
- 95% of SMEs and start-ups said that the provision of 100% funding was important for them to develop their innovation
- 84% said that, without IC tomorrow, they would not have developed their idea in the same way
- 95% of start-ups said being able to keep their intellectual property rights was important in helping them develop their innovation
- access to funding and a commercial partnership helps small firms develop their product faster
About the IC tomorrow programme
Innovate UK designed and manages the IC tomorrow programme. The aim is to stimulate innovation and economic growth in the digital sector.
It does this by bringing together market-leading firms and digital start-ups or SMEs to work on specific projects. The programme funded around 100 projects in its first 5 years.
Published: 21 March 2017
From: Innovate UK