In our latest whitepaper, we take a deep dive into the landscape of UK innovation in the wake of Brexit and following a global pandemic, analysing the Government’s role in facilitating future innovation.
The landscape of the economy and priorities have changed dramatically with the ongoing Covid-19 pandemic. The Government now wishes to incentivise innovation to an unprecedented level and use it to target specific societal issues and missions.
There are several reasons behind this:
- To establish the UK as an independent leader on the global stage following Brexit
- To fuel long-term economic growth
- To futureproof ourselves by keeping up with technological trends such as the rise of digitisation
The state of innovation
The state of innovation in the UK refers particularly to innovation within technological or scientific products, processes, and services. Innovation fills and creates new niches in the economy and allows us to compete on the global stage and tackle some of society’s great problems. To support this, the UK government incentivises private R&D through public investment.
The Government announced that spending on R&D in 2021-2022 will be £14.9 billion, the highest level in four decades. This follows a slump in the increase of R&D expenditure in the wake of Brexit and the subsequent economic and political uncertainty.
- The current UK innovation landscape in the context of current events
- The barriers and drivers of R&D
- How the Government can facilitate, encourage and create innovation
Explore this fascinating report today and discover the state of innovation in today’s economic, political and social climate, and discover where it could be headed, not least how to get there.