An overview of how the UK government helps companies to foster innovation.

1. Fostering Innovation & the
Industrial Strategy
Jessie Buscombe
Deputy Director
of Business Environment
Sarah Tyrell
Head of Finance
Research & Innovation

2. Jessie Buscombe, Deputy Director, Business Environment and
Sarah Tyrrell, Head of Finance, Research and Innovation
Department for International Trade
WELCOME TO A LAND
ALIVE WITH OPPORTUNITY

3. 3
The UK: A GREAT place to invest
• Stable, transparent legal and regulatory
regime
• Ranked in Top 10 for Ease of Doing
Business​
• Lowest rate of corporation tax in G20
• World leading R&D environment, including
generous tax incentives
• Highest proportion of adults with tertiary
education in Western Europe

4. 4
Industrial Strategy
Ambition:
An economy that boosts productivity and
earning power throughout the UK
“The Industrial Strategy will back our country for the long
term: creating the conditions where successful businesses
can emerge and grow, and helping them to invest in the
future of our nation.”
Theresa May

5. 5
Industrial Strategy Foundations
Ideas
• Raising total R&D investment to 2.4% of GDP by 2027
• £725m for Industrial Strategy Challenge Fund
programmes
• Increasing the rate of R&D tax credit to 12%
People
• Technical Education System to rival the best in the
world
• STEM skills: £406m for maths, digital and technical
education
• National Retraining Scheme: £64m for people to re-
skill (focus on construction and digital)

6. 6
Infrastructure
• Increase National Productivity Investment Fund to £31bn
(supporting investments in transport, housing and digital)
Business Environment
• £20bn investment in innovative and high potential
businesses (access via British Business Bank)
• Sector Deals – partnerships between Government and
industry
Places
• Improving connectivity within regions via a £1.7bn
Transforming Cities Fund
Industrial Strategy Foundations

7. 7
Industrial Strategy Grand Challenges
‘We are putting in
place Grand
Challenges to put
the UK at the
forefront of
industries of the
future’.

8. UK Research and Innovation support

9. 9
UK government support for innovation
Money
• Funding through grant and loans to businesses conducting R&D in the UK
• Government offers R&D tax incentives
People
• Networks to connect businesses to academia and industry
Research Infrastructure
• World Class facilities and research and innovation infrastructure

10. 10
UK government support for innovation - money
Foreign investors can benefit from funding by conducting
their R&D in the UK
• Government increasing investment in R&D £4.7bn increase in R&D
investment from 2017-18 to 2020-21
• Industrial Strategy Challenge Fund £1.7bn to date to respond to
greatest global challenges and growth opportunities
• Innovate UK provides funding to businesses:
• R&D grants – targeted and open competitions (including the ISCF)
• Innovation loans for SMEs – late stage R&D
• Tax incentives - R&D tax credits and Patent box

11. 11
UK government support for innovation - people
Innovate UK provides connections to help businesses access expertise
and partners:
• Knowledge Transfer Network - connect business with academia and
industry knowledge
• Enterprise Europe Network - help businesses innovate and grow on an
international scale
• Catapult Centres - network of world-leading technical facilities
also opportunities to access funding and people…
• Knowledge Transfer Partnerships - provide businesses access to talent
to conduct specific R&D project

12. 12
UK government support for innovation –
research infrastructure
• High Value Manufacturing
• Offshore Renewable Energy
• Energy Systems
• Future Cities
• Transport Systems
• Medicines Discovery
Catapult Centres support innovative
businesses by providing access to
the critical facilities and expertise
they would not find together
elsewhere.
Designed to transform research
rapidly into commercial success.
• Precision Medicine
• Cell and Gene Therapy
• Digital
• Satellite Applications
• Compound Semiconductor
Applications

13. 13
• The UK’s Industrial Strategy sets out how we are building a
Britain fit for the future – how we will help businesses create
better jobs in every part of the UK with investment in the skills,
industries and infrastructure of the future.
• We are increasing our investment in R&D to make the UK one
of the most exciting locations in the world for ground-breaking
research, and developing the technologies of the future.
• We provide support for businesses to conduct R&D in the UK
by providing money, connections to people and access to world
class research infrastructure.
Summary