Innovate UK
| 200px | |
| Formation | 2007 |
|---|---|
| Type | Non-departmental public body |
| Headquarters | Swindon, United Kingdom |
Parent organization | UK Research and Innovation |
| Website | Innovate UK |
Innovate UK is the United Kingdom's innovation agency, which is part of UK Research and Innovation (UKRI). It was established in 2007 with the aim of driving productivity and economic growth by supporting businesses to develop and realize the potential of new ideas. Innovate UK provides funding and support to help businesses innovate, develop new products, processes, and services, and bring them to market.
History[edit | edit source]
Innovate UK was originally established as the Technology Strategy Board in 2007. It was rebranded as Innovate UK in 2014 to better reflect its mission of fostering innovation across the UK. In 2018, Innovate UK became part of UK Research and Innovation, a new organization that brings together the seven Research Councils, Innovate UK, and Research England.
Mission and Objectives[edit | edit source]
The mission of Innovate UK is to drive productivity and economic growth by supporting businesses to develop and realize the potential of new ideas. Its objectives include:
- Accelerating the journey from concept to commercial success.
- Supporting businesses to develop new products, processes, and services.
- Encouraging collaboration between businesses and research organizations.
- Promoting the adoption of new technologies and practices.
Funding and Support[edit | edit source]
Innovate UK provides a range of funding opportunities and support services to businesses, including:
- Grants: Financial support for research and development projects.
- Competitions: Funding competitions for specific sectors or challenges.
- Knowledge Transfer Partnerships (KTPs): Partnerships between businesses and academic institutions to facilitate knowledge exchange.
- Innovation Loans: Loans to help businesses scale up and commercialize their innovations.
Key Programs[edit | edit source]
Innovate UK runs several key programs to support innovation, including:
- Smart Grants: Open funding competition for game-changing and commercially viable innovative ideas.
- Catapult Centres: A network of world-leading centers designed to transform the UK’s capability for innovation in specific areas and help drive future economic growth.
- Global Challenges Research Fund (GCRF): Supports cutting-edge research that addresses the challenges faced by developing countries.
Impact[edit | edit source]
Since its inception, Innovate UK has supported thousands of businesses and projects, contributing significantly to the UK economy. It has helped to create jobs, increase productivity, and foster a culture of innovation across the country.
Also see[edit | edit source]
- UK Research and Innovation
- Technology Strategy Board
- Knowledge Transfer Partnerships
- Catapult Centres
External links[edit | edit source]
Template:UK government agencies Template:Innovation in the United Kingdom
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