The UK has a long and distinguished history of world-leading innovation and new ideas, with a respected research base, thriving start-up sector, strong enabling environment, and active investor community.

There is also considerable ambition and investment. The government set out its aim for the UK to become an innovation-led economy in the
UK Innovation Strategy, with £60bn investment over the next three years, and annual investment

in research and development (R&D) rising to £22bn by 2026/27.1 The government has also confirmed that funding for the UK’s nine Catapults will increase by 35 percent compared to the last five-year funding cycle.