On 1 July 2020 the government released an R&D Roadmap to set out vision to attract global talent, cut unnecessary bureaucracy and cement the UK as a world-leading science superpower.
Luke Hamm, CEO at GovGrant, responds:
“The R&D Roadmap should be the start of a vital conversation around how we approach R&D and innovation in this country. The roadmap is at the heart of the Government’s strategy to level up the UK economy and build a better Britain.
It’s encouraging to see the Government committing to a strategy of investing in innovation, attracting talent and upskilling workers. If we want to be a global player we need to develop unique skills and industries, encouraging international collaboration and cutting red tape. Every time that a UK company invests in commercialising innovation by developing an idea to a scalable product or service, it is investing in the long-term future of the UK economy and creating valuable future-proofed jobs.
We need to reward any business that embraces risk to drive growth for the UK. While the roadmap is a signal of commitment and support for entrepreneurs, the devil is in the detail and we need to see the follow up.
Innovation is taking place right now in businesses up and down the country, across all sectors and regions – it’s not the exclusive preserve of labs, the scientific community and universities. We need to ensure innovation and IP continue to be accessible and commercial. GovGrant works with innovators, risk-takers backing and entrepreneurs every day – helping them to work with HMRC and the tax system as a quick, efficient, established and sector-agnostic way of funding all innovation in businesses.”
GovGrant will take this opportunity to review and respond to the R&D Roadmap – we will always stand up for innovative businesses in the UK and make sure that they are rewarded.
As reported in Fintech Finance: Launch of UK R&D Roadmap – industry response.