Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 10
10
Not Addressed
The Government should publish an assessment of whether funding to Golden Triangle institutions should be...
Recommendation
The Government should publish an assessment of whether funding to Golden Triangle institutions should be made contingent on projects having a quantifiable economic impact elsewhere. (Recommendation, Paragraph 33) 44
Government response summary AI-generated
The government agrees with the recommendation and states they have published a national Spin-out Register and a UK university spin-out dashboard, with future iterations planned to include further economic impact measures. However, the response does not explicitly commit to the specific request of assessing whether funding to Golden Triangle institutions should be contingent on projects having a quantifiable economic impact elsewhere.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
The government disagrees that funding to institutions in the Golden Triangle should be made absolutely contingent on demonstrating quantifiable economic impact elsewhere but we agree that this is a factor that should be considered. Indeed, we already consider both national and local impact when evaluating business cases for investment in R&D and innovation. Our goal is always to drive quantifiable economic results throughout the investment process. In particular, when evaluating R&D investments we consider both their immediate local impacts as well as the potential consequences they can have across the UK through their interactions with other assets and institutions. This approach focuses on building excellence wherever it exists, with investments coordinated and managed to maximise impact and prevent duplication.
Read the full response on Parliament ↗