GovGrant commissioned CBI Economics to develop the evidence base on the landscape for Intellectual Property (IP) in the UK and internationally.
04 May 2021, 4 min read
Prosperity Pending, a new report by CBI Economics, highlights several gaps in the UK’s current performance on IP creation by business, starting with an under-spend on Research & Development (R&D) by business and government alike.
The analysis points to several areas for policy development which could unlock the potential of UK businesses to invest in IP in the UK and fully realise the UK’s potential to capitalise on its academic success:
- Enable the commercialisation of ideas from earlier stages of the R&D process to translate academic research into commercial outputs, increasing spend on experimental development, encouraging collaborations, and incentivising the generation of IP
- Target the barriers to R&D spend and IP investment faced by SMEs to unlock valuable and disruptive innovations and increase the share of high-growth SMEs. This is an area of untapped potential where the UK could show leadership amongst its international peers
- Develop the UK’s patent box and extend its
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