Innovate UK
The Technology Strategy Board was established in 2004 to advise the Secretary of State for Trade and Industry on business research, technology and innovation. On 1 July 2007 it took on a wider role and was re-structured as an arm's length, business-led, executive non-departmental public body (NDPB) sponsored and funded by the Department for Business, Innovation and Skills (BIS). For more information see Technology Strategy Board.
In August 2014, the Technology Strategy Board was renamed Innovate UK.
Innovate UK stated, 'The nature and remit of the organisation will remain the same. It will continue to fund, support and connect innovative businesses through a unique mix of people and programmes to accelerate sustainable economic growth.'
Innovate UK is the UK’s innovation agency. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy, delivering productivity, new jobs and exports. Its aim is to keep the UK globally competitive in the race for future prosperity.
With 500 staff, and a head office in Swindon, its work includes:
- Determining which science and technology developments will drive future economic growth.
- Meeting UK innovators with ideas.
- Funding the strongest opportunities.
- Connecting innovators with the partners they need to succeed.
- Helping innovators launch, build and grow successful businesses.
Innovate UK is part of the UK Research and Innovation (UKRI) the national funding agency investing in science and research in the UK. UKRI is an executive non-departmental public body, sponsored by the Department for Business, Energy & Industrial Strategy.
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