Driving Innovation

Technology Strategy Board

Nigel WalkerAccess to FinanceNovember 2012

Our goal is to accelerate economic growth by stimulating and supporting business-led innovation

Our 5 Strategic Focus Areas

• Accelerating the journey – from concept to commercialisation• How businesses can get to market sooner - and more effectively

• Connecting the innovation landscape• Helping companies to find the best answers, expertise and help

• Turning Government action into business opportunity• Where Government procures, regulates, standardises...

• Investing in theme areas based on global potential • Large markets which the UK is equipped to exploit

• Continuously improving our organisational capability• Impact assessment, metrics, measures, efficiency, effectiveness.

What we do:• We help strengthen the global competitive position of our• leading businesses• We identify and grow sectors and businesses with the capacity

to become the best in the world• We nurture the businesses that can succeed in the growth• sectors of tomorrow

We consider:

Can the UK do it?Is there a large

market opportunity?

Is the idea ready? Can we make a difference?

The Toolset

Collaborative R&DSmart

LaunchpadEntrepreneur Missions

Innovation Vouchers

Innovation Knowledge Centres

• Proof of Market• Up to 9 months• Up to £25k grant• Up to 60% of project costs

• Proof of Concept• Up to 18 months• Up to £100k grant• Up to 60% of project costs

• Prototype Development• Up to 2 years• Up to £250k grant• Up to 35% of project costs (medium) or 45% of project costs (micro / small)

Smart Awards

• Stimulating cluster growth• Pilot in Tech City• Launched April 2011• Up to £100k grant for digital projects up to 1 year, 50% grant• 200+ video clip applications• 40 shortlisted for full applications• 18 grant offers – contingent on raising matching external finance within 1 year• 14 projects raised funds (equity from angels / crowdfunding, debt, partner

development contracts)• 1 project complete... Makielab: from idea to product launch in 6 months and

$1.4m funding raised

• Considering further Launchpads in 2013 and beyond

Launchpad

Knowledge Transfer Networks

Aerospace and Defence

Biosciences

Chemistry Innovation

Creative Industries

Electronics, Sensors & Photonics

Energy Generation and Supply

Environmental Sustainability

ICT

Financial Services

HealthTech & Medicines

Industrial Mathematics

Materials

Modern Built Environment

Nanotechnology

Transport

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_connect: open innovation platform

_connect Investment Network

www.innovateuk.org

Nigel WalkerAccess to FinanceTechnology Strategy BoardNigel.walker@tsb.gov.uk07824 418360