Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, with reference to paragraph 4.94 of the Autumn Budget 2024, published on 30 October 2024, HC 295, by what process the support for the commercialisation of university research will be allocated; and what the expected return is.

DSIT and UK Research and Innovation are designing a new process to allocate this funding. This will build on engagement earlier in the year with the university sector on how to design proof-of-concept funding. While the benefits realised will depend on the precise design, evaluations of existing UKRI programmes show strong benefits. For example, the Medical Research Council’s evaluation of their developmental pathway funding scheme found that spin-outs from those awarded funding raised on average £4 million, whereas most spin-outs from projects marginally rejected for funding raised very little, or nothing.