How can science and tech innovation boost regional economic growth?

Today, the Science, Innovation and Technology Committee launches an inquiry to assess the role of the UK's innovation ecosystem in achieving the government's mission to kickstart economic growth across the country.  

During the recent Autumn Statement, the chancellor announced £20.4 billion in investment for UK's research and development for the next year, with the aim of boosting economic growth and achieving its five national missions.  

This inquiry will focus on how the government's investment in R&D contributes to economic growth across the UK.  

The cross-party committee will consider how the local and national government drives regional research and innovation, and how this delivers regional growth and prosperity.  

Members will examine the health of the country's innovation ecosystem across the nations and regions. This will include considering how a range of factors – regulation, policy, access to investment, research clusters, infrastructure – influence the success of start-ups and spin-outs and foster regional growth.  

The chair of the Science, Innovation and Technology Committee, Chi Onwurah MP, commented:  

“In the budget, the Committee was pleased to see the government deliver record levels of funding for UK R&D and reinforce its commitment to invest in innovation to boost economic growth. 

“This inquiry is a chance to assess exactly how this innovation investment contributes to regional growth. We'll examine the different ways that local and national government fund and encourage science and tech innovation, and how this in turn delivers economic growth and productivity across the entire UK.  

" We will look closely at the UK's innovation landscape and how it can drive economic development across the UK, not just within the ‘golden triangle.'” 

Terms of reference 

The Committee welcomes written submissions on some or all of the following points by 23:59  13^th January: 

1.      How does the Government drive research and innovation in our regions? 

·       How effective are the government's policies in supporting the innovation ecosystem across the UK's nations and regions, particularly through commercialisation initiatives? 

o   How should devolution be harnessed to support innovation across the regions and nations, and what role should local government play in supporting research and development? 

·       How do factors such as the tax system, regulatory frameworks and standards influence the success of start-ups, spin-outs, and other innovation-driven businesses? 

o   What challenges do innovation-focused researchers and businesses face in spinning-out or scaling-up, such as accessing venture capital, infrastructure and intellectual property rights. 

2.      How does research and innovation in our regions drive growth and prosperity in those regions? 

·       How effective are regional innovation hubs and clusters in supporting regional growth and prosperity for local communities? 

·       How regional Cluster growth can best be measured, mapped, and monitored to help inform local leadership and evidence-based policymaking in Whitehall. 

·       Would unlocking investment at scale for innovative science and technology companies support regional growth, and how could this be done?  

·       Should there be region-specific innovation and growth policies, and what should local government's role be in this? 

3.      How is research and innovation diffused or supported to drive productivity and growth in the regions, wherever it may come from? 

·       What more can be done to ensure that innovation investments deliver tangible outcomes for both local and national economies, in terms of productivity and growth, and how should this be assessed? 

·       To what extent do Catapults support technology diffusion, and drive both national and regional growth? 

·       How well are universities and businesses coordinating efforts to develop and commercialise research, including the role of spin-outs and collaborative R&D projects? 

In addition, the Committee welcomes submissions on the following points: 

·       What is the relationship between investment in innovation and economic growth, both regionally and nationally? 

o   Is the £20.4 billion research and development budget delivering value for money and economic growth, and what metrics should be used to evaluate its effectiveness? 

o   How are funding bodies such as UKRI and ARIA contributing to the UK's innovation ecosystem and delivering the government's growth missions? 

·       How does the UK's innovation ecosystem compare to those of other countries, and what lessons can the UK learn from international models in terms of commercialising research and innovation to benefit both regional and national economies?