Science and Innovation Strategy: Institution of Engineering and Technology comments to the Department of Innovation, Business and Skills.
Abstract The level of UK business investment in innovation, research and development is low in comparison to our international competitor countries and in order to be comparable would need to double its investment. It is clear that more must be done to incentivise investment in innovation in UK. For example, funding should be predictable over a 5 year period to allow for forward planning and localised mechanisms of support for innovation should be strengthened. There should be greater scope for curiosity or ‘blue sky’ projects and interdisciplinary research should be encouraged both within the UK and globally. In addition, the UK is lacking the skilled workforce that it requires in order to be globally competitive, this needs to be addressed by all key stakeholders including government and employers.
Submission Details Submitted on 01 September 2014 to Department of Innovation, Business and Skills