Source · Select Committees · Business and Trade Committee
Recommendation 38
38
Paragraph: 151
We recommend that UKRI put in place an action plan which: • sets out how...
Recommendation
We recommend that UKRI put in place an action plan which: • sets out how they will ensure that the ISCF stimulates innovation in all the nations and regions of the UK; • details how UKRI will reverse the trend of funding moving sharply away from SMEs to larger businesses; • addresses concerns that the collaborative co-investment bid process is not appropriate for SMEs which are unable to meet co-financing requirements.
Paragraph Reference:
151
Government Response
Not Addressed
HM Government
Not Addressed
61. The Government recognises the concerns raised by the Committee regarding the Industrial Strategy Challenge Fund (ISCF) and have agreed a robust action plan that will address the recommendations made by the Committee, the Public Accounts Committee, and National Audit Office. 62. As outlined in The Queen’s Speech 2021, levelling up opportunities across all parts of the UK is a key Government agenda. This is supported by UKRI through its mission to build a research and innovation (R&D) system in the UK, to which everyone can contribute