Innovation and Research Strategy for Growth
The Government announced its
Innovation and Research Strategy for Growth (Dec 11). The Government considers innovation as a key enabler to the UK’s growth agenda. The Government is proposing incentives to encourage companies especially SMEs to innovate. In addition to the SME R&D Tax Credit the Government will be investing an additional £75 million to support small business innovation. New schemes such as:
- SMART awards: grants that support SME research and development
- Innovation Vouchers Programme: to enable small businesses to engage with universities and the wider knowledge base
- Small Business Research Initiative: to help more small businesses win government contracts for their innovative products and services
