The Small Business Research Initiative (SBRI): managing risk, driving innovation and growing SMEs through public procurement.
The Government should encourage greater use of the SBRI through financial incentives for public bodies. This will increase the number of SMEs (small and medium enterprises) awarded government contracts and will help the UK become a high technology exporter. The Government should develop ways to help SBRI projects after Phase 2. This joining up can help to rebalance the economy. The EU (European Union) should be pressed by the UK government to allocate more of its innovation spending on SBRI-type schemes across Europe to help foster and grow an innovative supply chain and develop the larger companies of tomorrow.