Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 16
16
Not Addressed
University spinouts play an important part in ensuring that the UK’s research base contributes to...
Recommendation
University spinouts play an important part in ensuring that the UK’s research base contributes to economic growth. However, academics at some institutions would benefit from greater flexibility in working structures as they start and grow their spinouts, and universities should be prepared to accept smaller returns on IP if it encourages greater levels of innovation and delivers wider economic benefits. This would help rebalance the risk-reward dynamic that is essential to delivering an innovation-driven economy; and support greater regional growth. (Conclusion, Paragraph 53)
Government response summary AI-generated
The government's response focuses entirely on the role and funding model of Catapults, arguing for their existing structure and regional impact, without addressing the committee's recommendation regarding university spinouts, academic flexibility, or universities accepting smaller returns on intellectual property.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
We agree with the Committee that we must continue to improve the ability of institutions and businesses to commercialise innovation in all clusters. We are taking ambitious and proactive steps to do that. UKRI has launched a £40 million proof-of-concept fund, and we expect the overall funding will grow across the Spending Review, and new programmes will provide follow-on support for projects supported through proof-of-concept funding. We are also improving transparency around spin-out activity, supporting technology transfer capability and making it easier for innovative firms to navigate support as they grow. Across the wider innovation system, UKRI and Innovate UK (IUK) have created a single front door for businesses through the Innovation Hub helping to simplify access and improve coherence. As announced in their recent Prospectus, IUK’s ‘Velocity’ approach will also provide high potential businesses with tailored support through an account management service. We are also focusing on creating demand for innovation, through reforming our approach to procurement to make it easier for innovation firms to sell to the public sector, and incentivising public sector programmes to adopt innovation.
Read the full response on Parliament ↗