PARLIAMENTARY WRITTEN QUESTION
Innovate UK (12 December 2016)

Since 2007, Innovate UK has invested over £1.8 billion in innovation, with match funding from businesses nearly doubling this. The economic return from this investment is estimated to be up to £7.30 gross value added for every £1 invested. The increase in jobs is estimated at around 55,000 – or 7 jobs for every organisation supported.

In addition to core investment by the Department for Business, Energy and Industrial Strategy, other government departments have policy objectives requiring technology-led innovation – from reducing transport emissions to improving agricultural productivity. Many of these programmes are run in partnership with Innovate UK.