Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology what assessment his Department has made of the adequacy of the accessibility of Innovate UK funding for UK SMEs.

Supporting innovative small firms is a key objective of the government’s growth mission. My department regularly engages with business organisations to understand the needs of their members. 86% of Innovate UK grant funding goes to SMEs, with 8,000 SMEs supported in 2023 that were new to Innovate UK funding. Innovate UK’s connections to SMEs and innovators include 600+ skilled innovation & growth specialists across the UK through IUK Business Growth and IUK Business Connect. This network supports more than 10,000 SMEs a year on their innovation journey.