First Industrial Strategy Challenge Fund engagement begins

Posted On: 16th January 2017

UK-wide workshops will allow businesses and scientists to input on how the cross-disciplinary fund can support industry.Government Opportunities

Business and scientists in the UK are being invited to contribute their thoughts how on the Industrial Strategy Challenge Fund can support them. The fund, which was announced by the Prime Minister at the 2016 CBI Annual Conference, will help identify and develop UK industries that are fit for the future, driving progress in technologies where the UK can build on existing areas of industrial and research strength.

Innovate UK and Research Councils are now gathering input from UK industry and the research base on how this cross-disciplinary fund can best help to meet some of the greatest societal challenges of our time.

Through the Knowledge Transfer Network (KTN) Innovate UK is facilitating workshops across the UK in January to ensure that the challenges identified match UK business capability and are based on the best available evidence for scientific and commercial success.

The Industrial Strategy Challenge Fund will form part of the Government’s overall Industrial Strategy. These events are just the beginning. There will be ongoing engagement throughout 2017 as the best challenges are identified. Further announcements will be made in the spring.

The fund will address the future needs of industry and consider potential new markets which will deliver economic impact, jobs and growth across the country. Programmes delivered by the fund will be industry-led and powered by multi-disciplinary research and business-academic collaboration.

From self-driving cars to advanced medical therapies that will revolutionise disease management, there are dozens of high-impact technologies on the horizon in which the UK has immense capabilities. This fund could help boost long-term productivity and economic growth.

Consultation on the wider Industrial Strategy green paper, which includes the fund, will be announced shortly.

In a message to those attending the events, science minister Jo Johnson said:

“This fund represents a clear commitment from government to put research and innovation at the heart of our industrial strategy and ensure the UK remains at the forefront of innovation for years to come.

These workshops will bring together experts from across the country to help us identify where the UK can better take advantage of its world-leading expertise in research and innovation.”

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