Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, whether she has made a recent assessment of the adequacy of the application process for grants from Innovate UK; and if she will take steps to help ensure that small businesses are not disadvantaged in that application process.

Innovate UK (IUK) offers extensive support services and funding opportunities for businesses of all sizes, including micro and SMEs. In 22/23 it supported 3,000 SMEs with grants, a 47% increase from 2020.

IUK’s processes meet Cabinet Office Grant Standards, and are audited internally and externally to ensure they are fair and robust. IUK recently published a Declaration to Support Businesses to Grow and Scale setting out how it is refining its approach to supporting businesses. This included pledging to halve the average time to process grant applications.