Seizing the moment: business priorities for the government’s innovation strategy

The government announced their intention to launch an innovation strategy as part of the Plan for Growth, recognising the critical role of business innovation in building back better. Since then, the CBI has engaged with members, ministers, and officials to shape the design and delivery of this new framework to ensure it reflects business priorities and contributes to the UK being a great place for businesses to innovate and grow.

There has not been a formal consultation, but the CBI has ensured the voice of business has informed strategy development through a number of channels:

• The CBI’s Innovation Director sits on the Science Minister’s Innovation Expert Group (IEG) tasked with steering the strategy. Member views were captured through a series of MS forms on key questions posed to the IEG for input – including international innovation, procurement, innovation infrastructure and policy levers
• The CBI arranged two member roundtables with BEIS officials, which included a detailed exploration of the missions and technologies themes in the strategy
• The Science Minister attended the CBI’s Innovation Council in May to hear directly from members
• The CBI sent a submission into BEIS reflecting member priorities, as summarised below.

Business priorities for the innovation strategy

1. Bold strategy and investment: The Innovation Strategy and Spending Review must provide the long-term direction and fuel to reach government’s science and innovation ambitions.
2. Support for business innovation: Business welcomes a strategy that focuses on innovation, sustaining underpinning research ecosystem strengths and growing investment and support for development and adoption phases of innovation.
3. Build on strengths: Prioritise making better use of established research and innovation assets and infrastructure ensuring they are optimally supported, introducing new where needed.
4. Harness levers: BEIS must work across government to ensure levers are aligned to deliver on the Plan for Growth and Innovation Strategy aims, from levelling up, procurement and trade deals, to skills and regulation.
5. Improve navigation for business: The current ecosystem is complex and challenging to navigate, especially for SMEs. In the CBI Tech Tracker 2020, when asked to name one thing that would have the biggest impact on their ability to innovate in the next 12 months, 10% of SMEs and 12% of large businesses responded being able to better understand and navigate existing business innovation support.

What comes next?

We are expecting the strategy to be published in early July. However, our window for shaping the UK’s innovation offer will not close upon publication of this strategy. While it will offer a direction of travel, further engagement will be crucial to shape its implementation.

The Spending Review later this Autumn will be an important opportunity to influence the level and focus of government investment in R&D and innovation. The CBI will work alongside members to further develop our asks for the Treasury to support business innovation and create the conditions for an innovative economy in the decade ahead.

For more information, or to get involved in CBI’s innovation work, contact Vanessa O’Donnell.