PARLIAMENTARY WRITTEN QUESTION
Universities: Private Sector (19 December 2016)

The Government has taken action across a range of areas – skills, research, infrastructure and facilities, knowledge exchange, access to finance, intellectual property and tax incentives - to ensure the strong development of university-business collaboration and the application of research to support sustainable economic growth.

At the Autumn Statement, the Government committed an extra £2 billion a year in research and development by 2020- 21, including for the Industrial Strategy Challenge Fund. The Chancellor confirmed a further £100m support for collaboration between universities across the range of knowledge exchange activity and a further £100m for Innovate UK for the Biomedical Catalyst.

The creation of UK Research & Innovation - bringing together the Research Councils, Innovate UK and the research and knowledge exchange functions of the Higher Education Funding Council for England is an opportunity to take a strategic approach and to simplify funding arrangements for research, innovation and commercialisation.