Public funding for innovation in small companies plays a vital role in enabling high-tech startups to survive, grow and scale. For larger companies, this funding facilitates collaborative R&D and supports R&D investment in the UK.
Funding programmes delivered by Innovate UK and several other public funding agencies are excellent at supporting engineering innovation. However, there is a notable gap in support for late-stage development and demonstration activities.
Agencies should continue to provide and develop innovation funding programmes, exploring opportunities to increase flexibility and models for participation.
Explainer: Innovation funding (116.53 KB)