Late-stage development and demonstration is difficult and risky, but is a crucial step in bringing new products and services through to market.
Attracting later stage innovation activities can bring significant benefits to the broader economy. Sites often become the primary location for companies’ market development and further R&D, as it convenes technologists, investors and customers, and is often capital intensive.
Compared to competitor countries, the UK is poor at supporting this crucial stage of development.
The UK should prioritise the provision of multiple support mechanisms for companies to develop, test and demonstrate their technological innovations. This should include maximising the use of existing infrastructure as national innovation assets.
Explainer: Late-stage development and demonstrators (251.71 KB)