Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what steps he is taking to support university-partnered venture capital investment companies outside the Oxford, Cambridge and London triangle; and whether Ministers in his Department have met with those companies.

The Government is committed to driving innovation and economic growth across the UK. DSIT Ministers regularly meet with investors in science and technology sectors. Research England’s Connecting Capabilities Fund (CCF) has supported university collaborations, leading to the Northern Gritstone and Midlands Mindforge venture capital funds, and the Northern Accelerator. Innovate UK’s Investor Partnerships programme supports investors like Northern Gritstone and Qantx with R&D funding for their companies. The government supports venture capital through tax reliefs such as the Enterprise Investment Scheme and programmes from the British Business Bank who are an investor in Northern Gritstone. Government continues to assess opportunities to strengthen the UK’s leadership in innovation-led investment.