Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 13
13
Accepted in Part
Future disclosures of departmental R&D spending should include breakdowns by region and cluster.
Recommendation
Future disclosures of departmental R&D spending should include breakdowns by region and cluster. The Government and UKRI should also develop a framework for tracking impact and publish annual regionally disaggregated reports that set out how public R&D funding supports innovation across the country. These should include company-level data on funding, innovation diffusion and take-up, and geographic distribution. (Recommendation, Paragraph 43)
Government Response Summary
The government partially agrees, highlighting the British Business Bank's (BBB) regional investment funds and new funding for East, South-East, and ten innovation clusters, which aim to ensure access to finance for innovative businesses across the UK. However, it does not explicitly commit to publishing the specific departmental R&D spending breakdowns or company-level data as requested.
Government Response
Accepted in Part
HM Government
Accepted in Part
The government partially agrees with the recommendation. We recognise the importance of ensuring that access to finance reflects the needs of innovative businesses in every part of the UK. The British Business Bank (BBB) operates a substantial regional presence through its Nations and Regions Investment Funds, which work with capital allocators embedded locally to deliver debt, guarantees, and equity finance to SMEs. To date, BBB has dedicated £1.6 billion of funding across the nations and regions to ensure companies across the UK are able to access the capital they need to scale and grow. These Nations and Regions Investment Funds provide micro-loans, debt, and equity products, ensuring businesses can access the finance they need regardless of location, and enabling BBB to maintain a strong on-the-ground presence across the UK. The BBB is now adding further resources: • £350 million for new East and South-East Investment Funds, expanding BBB’s footprint into these regions and strengthening access to early-stage and growth finance • An additional £100 million supporting ten, high-potential innovation clusters across the UK. Together, these programmes address the issue identified by the Committee’s recommendation, without the need for branded regional branches, ensuring that the Bank’s policies remain closely aligned with business needs across all nations and regions of the UK.