Innovation

Innovation is the process by which new ideas are successfully exploited to create economic, social and environmental value.

Innovation is a key driver of economic growth.  BIS, the Department for Growth, supports and strengthens this process with the objective of making the UK the most attractive place in the world to start and invest in technology based businesses.  The Innovation and Research Strategy for Growth (December 2011) (PDF, 1.1 Mb)  sets out the Coalition Government's strategy for achieving this, building on an earlier Blueprint (November 2010) (PDF, 1.1 Mb) .  

The following pages show some of the practical support available for business innovation. See :

• the Technology Strategy Board provides a range of support for R&D and innovation including Grants; support for Knowledge Transfer;  and is establishing a network of elite Catapult Centres to commercialise R&D on new and emerging technologies
• Government funding for venture capital: the UK Innovation Investment Fund 
• tax relief for technological R&D provided by R&D tax credits 
• reduced tax on Patent and certain other income (from 2013), which scheme is called the ‘Patent Box’
• guidance on how to access business finance  and other  business support
• loans available from European Investment Bank (EIB) for investment by business and universities in R&D and innovation
• business opportunities from public procurement, including pre-commercial procurement such as the Small Business Research Initiative and  Forward Commitment Procurement
• help for UK companies to identify and benefit from developments in science and innovation overseas  via the Global Science and Innovation Network.
• knowledge transfer  from the Government’s research base
• support for design, protection of intellectual property including patents and copyright, standards and measurements provided by our innovation infrastructure partners. 
• exporting support for innovative UK companies, and inward investment and R&D partnering support for overseas companies provided by UKTI
• Innovation Prizes; Queen's Award for Innovation.  The 'Related Links' on the right-hand side of this page sign-post some of the other sources of information of interest to innovative businesses.

The nation’s progress on innovation is recorded in the Annual Innovation Report and further analysis is provided in the biannual UK Innovation Survey
(PDF, 375 Kb) 

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