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Written Question
Innovate UK: Reorganisation
Monday 15th March 2021

Asked by: Lord Broers (Crossbench - Life peer)

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what assessment they have made of the impact on innovation of moving Innovate UK from the Department for Business, Energy and Industrial Strategy to UK Research and Innovation.

Answered by Lord Callanan - Shadow Minister (Foreign, Commonwealth and Development Office)

UKRI was set up in 2018 to maximise the collective impact of the seven research councils, Innovate UK and the research and knowledge exchange functions of HEFCE. The impact of innovation takes a long time to realise. As part of UKRI, Innovate UK have successfully delivered new approaches to innovation funding, such as the Industrial Strategy Challenge Fund and Innovation Loans pilot.