Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 20
20
Rejected
In its response to this report, the Government should set out how it plans to...
Recommendation
In its response to this report, the Government should set out how it plans to support the establishment of a Northern Gritstone or Midlands Mindforge for every region of the UK. (Recommendation, Paragraph 61)
Government response summary AI-generated
The government partially agrees but does not commit to establishing Northern Gritstone or Midlands Mindforge-like funds for every region, instead rejecting a mandate to the British Business Bank for this purpose and stating DSIT is exploring options for a broader R&D infrastructure investment framework.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Rejected
HM Government · verbatim extract
Rejected
The government partially agrees with this recommendation. We recognise the important role of investor-led vehicles such as Northern Gritstone and Midlands Mindforge in university commercialisation and scale-up. These models depend on investor appetite and committed institutional leadership rather than central direction. Our role is to enable the conditions for investment to emerge where there is clear local demand, credible leadership and commercial viability. Where investment funds form that meet these conditions, we intend to and have supported them through UKRI and the British Business Bank in line with the Committee’s recommendation. Research England has supported collaborative commercialisation activity involving universities participating in investor-led initiatives, supporting the development of Northern Gritstone and Midlands Mindforge. In parallel, the British Business Bank has supported investment into university-linked innovation funds, including participation in Northern Gritstone. It also operates regional investment funds, including the Northern Powerhouse and Midlands Engine funds, providing debt and equity finance to innovative SMEs and complementing university-linked commercialisation initiatives. Together, these interventions help investor-led models develop where partners judge them viable, without government directing specific institutional structures from the centre.
Read the full response on Parliament ↗