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Faculty of Humanities

Innovate UK (IUK)

Innovate UK is the UK’s innovation agency. Part of the UK Research & Innovation, focus in ‘driving productivity and economic growth by supporting business to develop and realise the potential of new ideas, including those from the UK’s world-class base.’

With its inclusion in the UKRI framework, IUK has open some doors for research organisations involvement in research, transformation and engagement with business in opportunities organised and supported by UKRI through IUK.

IUK has been designed for UK business: IUK is part of a UK Government design/policy to address business interests and consciously invest in the private sector trying to address all the issues that could prevent British industrial interests to grow, therefore the academic input is marginal/secondary even, in the sense that it is there to support business, the source of funding opportunities for ROs/academia is mostly subordinate to contracting from the business sector. Opportunities will be possible mainly (but not always) as subcontractors and apparently in a passive way (see below): the business sector will approach the academia/IUK for support. In real terms ROs have developed own ways to interact with the business sector to form effective partnerships.

What IUK offers

  • A search engine for funding opportunities
  • Innovation funding advice. Guidance in how the funding system works, eligibility, and how the research organisations are involved in some of the funding opportunities.
  • Information about the Industrial Strategy Challenge Fund
  • Connections with innovation experts. This links to the Knowledge Transfer Network (KTN) which has become part of IUK and will support applicants:
    • connecting with experts outside their usual networks and industry
    • linking business with academics, government and funding opportunities
    • accessing support and intelligence to develop innovation strategy
    • exploiting ideas and capabilities
    • finding the right support
  • Events supporting partnerships and funding opportunities. Information events introducing new forms of funding; events supporting commercialisation of products a national and international level open new markets; contacting investors; expert knowledge from universities and research organisations; etc.

UKRI Corporative Plan 2020-21 and Strategy 2022-2027

Strategic objectives

People and careers

  • Prioritisation of Talent and Skills pipelines to support UK business innovation, including an Innovation Academy, and foresighting to address skills gaps in business, through complementary programmes to strengthen leadership and commercialisation skills. Targeted EDI interventions and the launch of our No Limits mission will act as an enabler of talent and skills.

Places

  • Implement a programme of Launchpad investments, and deliver three Innovation Accelerators in partnership with Department for Business, Energy and Industrial Strategy (BEIS) and local leadership to promote Levelling Up.
  • Increase our funding for global programmes by 2025, enabling us to support UK business to export.
  • Investing in the Catapult network and Innovate UK KTN to deliver Government priorities across the UK, and support commercialisation.

Ideas

  • Implement the national roll out of Innovation Loans and expand our investment through private equity matched Investor Partnerships.
  • Support highest potential SMEs with early-stage innovation responsive grant opportunities through Smart and Fast Start: Innovation grants.
  • Growth and commercialisation support through Innovate UK EDGE for high potential scaling businesses.

Innovation 

  • Expand our commercialisation and collaboration programmes including Knowledge Transfer Partnerships and ICURe, embedding research and business relationships.
  • Funding to support new standards, codes, regulation, and design innovation to help shape future markets.
  • Increase access to innovation support across government to SMEs through the launch of the Innovation Hub.

Impacts

  • Focus on innovation and commercialisation within three domains and then subdomains within them, coalescing existing and new programmes to support the future economy:
    • Net Zero
    • Healthy Living and Agriculture, including an expansion of Biomedical Catalyst
    • Digital and Technologies, including Professional Services and Creative Industries.

Supported by a world-class organisation

  • Improving our effectiveness and efficiency through UKRI’s new operating model: reviewing and streamlining our operations, governance, and stakeholder engagement.

 Budget

Budget category*

2022–23 (£m)

2023–24 (£m)

2024–25 (£m)

Core R&I Budgets**

669.49

798.70

970.00

Existing cross-UKRI Strategic Programmes

458.91

258.74

97.18

Fund for International Collaboration

7.42

1.52

0.00

Strategic Priorities Fund

8.48

5.22

1.18

Industrial Strategy Challenge Fund

443.00

252.00

96.00

Infrastructure***

0.17

0.08

0.00

Digital Research Infrastructure Programme – phase 1b pilot projects (2022–23 – 2023–24)

0.17

0.08

0.00

Existing time-limited commitments: Skills and training funding (Innovation)

6.51

1.30

0.00

DfT/OZEV programme

10.00

27.00

80.00

Grand Total

1145.08

1085.82

1147.18

Notes on the Innovate UK Budget

*  The figures provided in this document are in line with the 2022–23 – 2024–25 budget allocations for UK Research and  Innovation. These are broken down by UKRI budgeting and reporting categories, and excludes funding for a variety of programmes we work in partnership with other organisations on (references to which can be found in Objective 5.4), as well as funding for ODA, Financial Transactions, and BEIS Managed Programmes. Figures are indicative and may vary over the course of the three-year period due to budget adjustments made as a part of on-going financial management and planning processes to maximise the use of our total funding.

** The funding for talent and skills activities outlined in this delivery plan are accounted for in core R&I budgets.

*** Note that further infrastructure allocations may be made during the Spending Review period from the Infrastructure Fund, Digital Research Infrastructure Programme and Carbon Zero Fund Programme.

Links to relevant information