PARLIAMENTARY WRITTEN QUESTION
Innovation: Finance (17 October 2016)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the risk and potential effect of new government-funded assets on commercial innovation activity in existing commercial innovation facilities.

Asked by:
Anna Turley (Labour)

All potential major capital projects are assessed against the additional value they add, including an evaluation of whether the research or innovation activity is already being undertaken elsewhere. The majority of decisions about which research investments to undertake are taken directly by Research Councils, based on rigorous criteria including peer review.

In respect of the establishment of Innovate UK’s 11 Catapult Centres, all candidate areas have undergone a robust evaluation by Innovate UK’s Senior Innovation Leads who have relevant domain expertise. In addition, facilitated workshops, with leading figures in the relevant industries - including business, academic and representatives from the public sector, are held to ascertain whether Innovate UK’s analysis of the market opportunities in this area is correct. Each candidate area is evaluated according to an agreed process to assess the size of the global market opportunity and the demand for a Catapult to help business build on their capabilities to commercialise innovation and realise this potential in the UK.

In setting up new Catapult centres Innovate UK take into account the option of working within or alongside existing physical centres in the UK either to avoid duplication or to achieve quicker delivery.

At a local level, Local Enterprise Partnerships (LEPs) are responsible for identifying, assessing and approving Local Growth Funded projects. They do this in accordance with their strategic economic objectives and Local Assurance Frameworks which have to comply with the LEP National Assurance Framework. The National Assurance Framework covers value for money and states that methodology should be proportionate to the funding allocated and in line with established Government guidance including the HM Treasury Green Book.

Answered by:
Lord Johnson of Marylebone (Conservative)
20 October 2016