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Future of Innovate UK investigated in new Lords inquiry

20 May 2016

The House of Lords Science and Technology Select Committee undertakes a short investigation in June into the future of Innovate UK, the UK's innovation agency.

Background

The Nurse Review suggested integrating Innovate UK into a body that also incorporated the Research Councils. The November 2015 Spending Review announced that the Government would look to follow this recommendation. A brief consultation was held by the Department for Business, Innovation and Skills in February 2016 with some raising concerns about the proposal. The White Paper announced that a new umbrella body UK Research and Innovation will be created, incorporating the Research Councils, Innovate UK and Research England.

It was also announced in the November 2015 Spending Review that the Government plans to broaden the type of financial support available for innovation and to change Innovate UK's existing funding model. This may involve moving from a grant-based system to loans.

Scope

The Committee will probe the rationale for, and implications of, the incorporation of Innovate UK into UK Research and Innovation following the Government's White Paper. The Committee will also investigate other potential changes including new funding models. The Committee will seek perspectives from industry, funding bodies and the Government.

In this short inquiry, the Committee hopes to hear perspectives on the current effectiveness and future potential of Innovate UK following these structural changes.

Written evidence is not being solicited for this short investigation. If, however, any individual or organisation would like to make a written submission they should, in the first instance, contact the Clerk.

Timeline

Oral evidence sessions will take place in June, and the Committee intends to write to the Government about this topic shortly thereafter.

Further information

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