Innovate UK: Expenditure

Department for Business, Energy and Industrial Strategy written question – answered on 25th July 2022.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Business, Energy and Industrial Strategy)

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 18 July 2022 to Question 33780 on Innovate UK: Expenditure, what data Innovate UK collects on the (a) types of companies it invests in and (b) the level of success of those companies; and if he will publish a breakdown of Innovate UK's annual spending by (i) technology and (ii) service sector.

Photo of Jane Hunt Jane Hunt Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Data collected by Innovate UK includes self-declared enterprise size. Their focus for measuring success is through formal evaluation of their programmes which will include data at a company level. Innovate UK are in the process of embedding their impact management framework which will collect data from the organisation supported to provide throughout the project lifecycle enabling them to understand the impact journey of those they support.

Innovate UK support plays a key role in bringing together different sectors to solve challenges through innovative technology use. Their thematic programmes do focus on certain challenges but rarely specify the technology and often cross sectors.

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