The IET's response to the UK Research and Innovation Inquiry
The IET has responded to an inquiry launched by UKRI into areas where UKRI should prioritise their investment.
The IET has recommended several themes where the UKRI should seek to prioritise their funding, but has emphasised that they should continue to invest in, and develop, diverse research and innovation programmes to support the skills pipeline alongside these.
The IET recommends UKRI the following areas for prioritisation:
- Entrepreneurship: We are seeing a decreasing number of companies seeking investment for growth as pathways can be unclear and a lack of multi-sector support exacerbates financial and communicational disconnects. More support needs to be given to startups so they are able to scale up effectively.
- Digitalisation: Utilising emerging technologies and digitalisation is a facilitator to growth and can be a fundamental component to technological development. UKRI should invest appropriately into strong cybersecurity framework, and a high level of data standards and management, across any digital research and/or products.
- Sustainability: UKRI should continue to embed environmental sustainability across all its investment decisions and act as a springboard for innovative green energy solutions.
- Partnerships: UKRI should continue to look for international collaboration between institutions, laboratories and universities to facilitate sector-wide, and inter-sector opportunities that optimise knowledge sharing. This should be paired with simpler acquisition of short-term (less than one year) visas for academics, professionals, and executives to relocate for short periods of time both into and outside of the UK.