IET: Government support for innovation needs long term vision

A consistent, long term and properly funded approach to nurture a new wave of innovation is urgently needed warns the Institution of Engineering and Technology (IET).

The IET is urging the Government to put in place long term plans to ensure the UK remains amongst the most innovative countries in the world.

The warning comes as the Big Innovation Centre publishes its report: “Catapult to Success: Be Ambitious, Bold and Enterprising”. The report aims to establish what high performing UK Catapult centres should look like, by reviewing examples from all national initiatives across Europe,

Professor Andy Hopper CBE, President of the IET, said: “With major investment of more than £1bn over the coming years, the Catapult centres are a major long-term investment which aims to transform the pace of innovation and so accelerate economic growth.

“Catapult centres will only be successful if they attract the very best people and help develop a symbiotic relationship between academic research and those working in the field.  Organisations like the IET with a similar mission and values can help to make this link.

“However, whilst this initiative is to be lauded, I urge the Government to ensure this is part of a consistent long term approach to ensure we boost innovation and get the UK back on its feet.

“It will only be through a collaborative approach between academia and industry, with a reduction in commercial barriers and operational obstacles, as well as Government support that innovation in the UK’s high-tech industries will continue to thrive.”

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About the IET:
The IET is Europe’s largest professional body of engineers with over 150,000 members in 127 countries.
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About the report:
§  The Big Innovation Centre’s report: “Catapults – be bold ambitious and enterprising” is available from www.biginnovationcentre.com

§  For more information on Catapult Centres, visit: http://www.innovateuk.org/deliveringinnovation/catapults.ashx

Media enquiries to:
Robert Beahan, Media Relations Manager
T: +44 (0)1438 767336
M: +44 (0)7595 400912
E: rbeahan@theiet.org