To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 27 January to Question 110349, what proportion of private sector leverage is considered highly successful; and what proportion of Innovate UK programmes achieve that.
Answered on
3 February 2022
The level of private investment generated varies by sector (including maturity), stage of research and type of R&D funding programme. It can therefore vary considerably across programmes.
For Innovate UK programmes, , Innovate UK has invested £4 billion of grant funding and generated £2.3 billion of direct matched funding from businesses, since 01/01/2012. On top of this, evaluations show net additional follow-on private investment of between £1-£5 within 1-4 years of receiving a grant.
Across Innovate UK’s core programmes, validated programme evaluations demonstrate a return to the economy of approximately of up to £7 for every £1, as well as spill-over impacts estimated to be 2 to 3 times larger.