Source · Select Committees · Business and Trade Committee
Recommendation 42
42
Paragraph: 170
Whilst the future of the Grand Challenges is uncertain the fundamental issues which underpinned them...
Conclusion
Whilst the future of the Grand Challenges is uncertain the fundamental issues which underpinned them remain pertinent. A growing R&D budget channelled through the Industrial Strategy Challenge Fund and the Advanced Research and Invention Agency, in combination with a modification of state aid rules and procurement, has significant potential to promote the growth and innovation required to meet the Grand Challenges. However, there remains a pervasive sense of uncertainty regarding the future funding environment and how industrial policy and the Plan for Growth will interact with commercial innovation.
Paragraph Reference:
170
Government Response
Not Addressed
HM Government
Not Addressed
17. Much of the Government’s 2017 Grand Challenges and Missions work, including the Government’s commitment to Net Zero, is now core Government policy. The time is right to evolve the Government’s approach to ensure the country remains responsive to a changed global context and new trends, and to make the most of innovation and new technology for people and businesses. The recently published Innovation Strategy sets out a renewed approach to mission-based innovation. This strategy will play a vital role in supporting ambitions included in the Plan for Growth; detailing how the Government will make the UK a global hub for innovation. As set out by the Prime Minister, the Government will have a suite of new Missions that will build on the Government’s established strengths in mission-based innovation and the lessons of the Grand Challenges to support the Government’s priorities.