{"id":12747,"date":"2021-06-23T15:37:02","date_gmt":"2021-06-23T14:37:02","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=12747"},"modified":"2021-07-26T14:00:02","modified_gmt":"2021-07-26T13:00:02","slug":"what-should-the-uk-governments-new-innovation-strategy-look-like","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/what-should-the-uk-governments-new-innovation-strategy-look-like\/12747\/","title":{"rendered":"What should the UK government\u2019s new innovation strategy look like?"},"content":{"rendered":"
It is clear that innovation is at the top of this government\u2019s agenda. You only need to look as far as the 2020 spending review that promised \u00a315bn of R&D spending over the next year, or the launch of the Advanced Research and Invention Agency (ARIA) to see that R&D is a focus for the government.1, 2<\/sup> What has been important is that the government is not simply throwing money at the problem but is looking to improve how R&D is conducted in the UK.<\/p>\n Yet, the current state of UK R&D is a complex one. The latest statistics on R&D from 2019 show growth in R&D spending grew by its lowest level since 2012.3<\/sup> These statistics are from before the COVID-19 pandemic, which will undoubtedly have had an impact on innovation and may well have accelerated innovation, but it shows there is still room for improvement when it comes to UK R&D.<\/p>\n It is therefore encouraging to see the government taking action in its commitment to boost innovation and R&D in the UK with intentions to release a new innovation strategy in the summer, which will set out its plans to make the UK a global innovator leader. It is fair to say that any top-down innovation strategy that fails to consult businesses and the community would be doomed to fail, which is why we were keen to work closely with the government on its innovation strategy consultation. In May, as part of my role with the IEG, we hosted a roundtable which provided the Department of Business, Energy and Industrial Strategy (BEIS) with an avenue to speak directly to UK businesses about what they believe should go into the plan. So, what are we hearing?<\/p>\n The first hurdle the government faces is where to start. There is a genuine concern within industry that in developing a new innovation strategy the government will seek to overhaul the programmes and initiatives currently in place. An example of this is the 2017 Industrial Strategy which had a strong emphasis on R&D and laid out many of the current programmes.<\/p>\n There is legitimate reason for this fear, as governments always seek to put their individual stamp on the UK innovation landscape. Yet, there is no need to reinvent the wheel. While there is, of course, plenty of room for improvement, the ease of application for R&D tax incentive schemes in the UK is currently one of the best in Europe and the announcement of new mechanisms to support innovation through ARIA bode well for the future.<\/p>\n It is imperative, therefore, that the government does not seek to replace current funding schemes, such as tax credits, or radically overhaul institutions such as UK Research & Innovation (UKRI). Instead, what this new strategy should seek to do is look to improve, tweak, and steer our infrastructure and not change the systems that have helped the UK R&D scene become what it has today.<\/p>\n But, when looking at how the government can improve existing systems, one of the most significant areas of debate among participants was whether the focus should be on removing impediments or increasing the role of government. Some argued the best way to drive forward innovation in the UK would be to identify the key obstacles to innovation within the current system and remove them.<\/p>\n However, there were strong counterarguments to this, with many arguing that the government should not simply look to see where it can take less of a role but where it can take more. What is important here is that a sector-based approach is needed. While we recognise that the government is putting together a national strategy, they must appreciate the need to take different approaches within this over-arching plan depending on the industry.<\/p>\nNo need to reinvent the wheel<\/h3>\n
To remove or add?<\/h3>\n