Industry expert Andrew Mackintosh will lead a project
looking at how the public sector’s strong record of
developing valuable technology can benefit as many
people as possible. With such ‘knowledge assets’ and
intellectual property being ever more important in the
modern economy, the government is taking steps to
capitalise on these assets.
Understanding the full value of knowledge assets held
by the government and how to maximise them could help
to pay for public services in the future, by ensuring
that the government receives a financial reward for its
innovation and taxpayers are getting value for money.
Better harnessing the potential of new innovations
could also boost the wider economy.
A report published at Budget 2018 estimated the value
of public sector knowledge assets at more than £150
billion and outlined how the government could do more
to maximise their benefits. Now the next step is being
taken, with an implementation study led by industry
expert Dr Andrew Mackintosh. This will bring together
private and public-sector expertise and report in
summer 2019.
Chief Secretary said:
Realising the full potential of intellectual property
and know-how in the public sector could boost
productivity and will benefit the public finances.
This study marks a great step forward for government,
in maximising the social, economic and financial
benefits of its intellectual property, data and other
assets.
Dr Andrew Mackintosh, who will lead the study, said:
I am very excited to be leading this implementation
project… This is a strategically important area that
many organisations are grappling with across the
private and public sectors. I see huge opportunity
for the UK public sector to develop new and creative
approaches to increase the benefits that its
knowledge assets deliver.
The Budget 2018 report recommendations included:
providing expertise and guidance within government to
support public sector innovation; improving the way we
record and measure the value of knowledge assets; and
providing the right incentives and financial support to
realise their potential. The study will be focused on
implementing these recommendations.
The terms of reference for this study have today been
published and can be found here.
Further Information:
Dr Andrew Mackintosh has over 30 years of commercial
and general management experience in publicly and
privately owned high-technology businesses, including
as CEO of Oxford Instruments PLC.
