Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 41
41
Acknowledged
The Local Innovation Partnerships Fund’s ambition to give regions more control over innovation policy is...
Conclusion
The Local Innovation Partnerships Fund’s ambition to give regions more control over innovation policy is welcome, but it falls short on scale, with just £500 million over five years, or around 0.5% of the science budget. (Conclusion, Paragraph 130) 49
Government Response Summary
The government acknowledges the Local Innovation Partnerships Fund as a starting point and the UK's largest cluster-focused regional programme, stating it will monitor outcomes and build upon it if successful, but does not commit to increasing its scale.
Government Response
Acknowledged
HM Government
Acknowledged
As a start, we are delivering the UK’s largest, cluster-focused regional innovation programme ever through the £500 million Local Innovation Partnerships Fund. It represents a new way of working with places, empowering partnerships of local businesses, universities and civic leaders to shape innovation investment around local strengths and opportunities. We will monitor carefully how the first rounds of funding through this scheme deliver effective outcomes and will build on it where they do.