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Government pledges innovation and skills development

The government has set out its strategic policy to increase demand and create new markets for innovation and skills in the UK. But trade and industry bodies have said the white paper proposals do not go far enough.

By Miya Knights, 13 Mar 2008 at 17:51

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The government today unveiled a raft of new proposals it claims will increase its commitment to creating demand for innovative products and services.

John Denham, Secretary of State for Innovation, Universities and Skills unveiled its Innovation Nation paper which includes plans to extend existing funding or public private partnership initiatives and establish new ones, as well as initiate a review of the role regulation plays.

Its main commitments include the creation of five new 'innovation platforms' to develop new products, building on the ongoing work of the Technology Strategy Board (TSB) in co-ordinating low-carbon car development.

A new initiative to provide at least 1,000 'innovation vouchers' every year by 2011 is also planned to promote and help small and medium-sized businesses (SMBs) to work with academia and researchers to develop a new products or services. And, it restated the commitment made in yesterday's budget to increase the proportion of its £150 billion public sector expenditure on innovative products produced by UK SMBs.

Likewise, led by the Department of Innovation, University and Skills (DIUS) and the TSB, the number of Knowledge Transfer Partnerships between businesses, universities and colleges will be doubled. And the DIUS will also publish a prospectus in the autumn for new Partnerships for Innovation sponsorship to bring venture capital investment to universities, business and other local partners.

A new Specialisation and Innovation Fund pilot will be launched to boost further education college support for training and supporting businesses in raising innovation potential. Furthermore, a new Innovation Index pilot is also planned for 2009 to measure UK innovation that will be managed by the National Endowment for Science, Technology and the Arts (NESTA) in partnership with the Office for National Statistics (ONS), the Design Council and the Confederation of British Industry (CBI), among others.

NESTA and the TSB will also establish an Innovation Research Centre in partnership with the Economic and Social Research Council (ESRC). Business Link advisors will also be trained to provide intellectual property advice to small firms.

Finally, a new Annual Innovation Review to provide an annual assessment of promoting innovation in public and private sectors will be published for the first time this autumn.