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

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 14 July 2022 to Question 33779 on Innovate UK: Expenditure, what assessment he has made of the impact of reduced funding for (a) Innovate UK and (b) awards to Academic Institutions.

As set out in the answer given to Question 33779, fluctuations in investment levels between years reflect changes due to large programme awards and volumes of Covid related business support. Innovate UK’s core programmes budget is due to increase year on year throughout the current spending review period (FY22/23 to FY24/25) to £1.1bn by FY24/25, an increase of 66% on FY21/22

All IUK programmes will be subject to its new Impact Management Framework that will demonstrate clear value for money and evidence of impact.

The amount of funding going to Higher Education Institutions (HEIs) will be dependent on circumstances around specific competitions and collaborations but will continue to play a vital role in IUK’s portfolio. And collaborative programmes will be subject to the same Impact Framework.