Addressing key issues within the innovation and emerging technologies sectors.
The IET believes that the next Government will need to act in 5 different areas in order to achieve manufacturing success in the period 2015 to 2020.
Businesses of all sizes and from all sectors need a framework to enable them to plan their innovation strategy for long term success. It is important for UK businesses to be able to scale up innovative ideas and solutions into commercial solutions and not end up selling to larger and often non UK based businesses.
Businesses require an increased level of support for investment across the development lifecycle so that ideas can be proven, solutions developed and scaled up for commercial success. The investment opportunities should be considered as a UK wide approach to include better procurement, logistics and location. Investment in the network of Catapult Centres should be increased to enable them to grow to 30 centres by 2030.
Investment by Government should be aligned to the needs of innovative businesses so that there is the long term goal of having UK apprentices, graduates and existing employees skilled in the required areas
More regionalised awareness and assistance hubs in cities and localities should be provided to support local business that could operate within relevant communities to ensure they are accessing the correct expertise and investment opportunities
It is important that all government departments are aligned, coordinated and contribute to an innovation strategy. This means areas such as tax incentives, procurement, intellectual property, export promotion and inward investment are all geared towards supporting business innovation across all sectors of industry.