Spin-outs and finance eco-system: How can the current system for university spin-outs be improved to nurture the next generation of globally competitive Science & Technology companies?
Background
SRID evidence aims to ensure that DSIT’s significant RDI budget is invested effectively and that we understand its impact and value for money. The Science, Technology and Innovation Analysis Team (STIA), the analytical team supporting SRID, develop the evidence base via internal analysis, cross-Whitehall collaboration and externally commissioned research projects. STIA work closely with other analytical teams in DSIT and DSIT’s partner organisations.
STIA continuously work to improve our approach and methods of valuing RDI investment to fully showcase and evidence its value to the UK. We are also interested in developing new real-time performance monitoring tools to allow for more agile decision-making and significantly improve our Monitoring and Evaluation (M&E) capabilities. Improving our methodology for measuring economic, social and research benefits of RDI is also our priority.
SRID and STIA want to develop a stronger evidence base of the foundations of the Research Development and Innovation (RDI) system including how to: 1) grow the RDI workforce by improving the domestic pipeline, attracting and retaining the most talented RDI workers and supporting diverse, dynamic and creative careers 2) develop strong and sustainable RDI institutions that foster innovation 3) identify and capitalise on RDI clusters in the UK to support the levelling up agenda.
We also aim to develop a better understanding of how RDI policy can best drive economic growth, better jobs and discoveries. We aim to do this through identifying the best methods for measuring adoption and diffusion of innovation as well as drivers and barriers to innovation to create conditions for an increased investment in innovation.
Building understanding of the varied institutions within the UK RDI system and the factors affecting the operation of these institutions, such as bureaucracy and financial sustainability, is key to ensuring effectiveness of the system.
Next steps
If you are keen to register your interest in working and connecting with DSIT Science, Innovation, and Research Directorate, and/or submitting evidence, then please complete the DSIT-ARI Evidence survey - https://dsit.qualtrics.com/jfe/form/SV_cDfmK2OukVAnirs
Link to ARIs : https://www.gov.uk/government/publications/department-for-science-innovation-and-technology-areas-of-research-interest/dsit-areas-of-research-interest-2024
Topics
Related UKRI funded projects
-
Taiwan Innovation Exchange FLIP
To create impact from excellent science requires not only technical solutions but also mechanisms to bring products and processes to market. In this FLexible Interchange Programme (FLIP) project Professor Iain Donnison s...
Funded by: BBSRC
Lead research organisation: Aberystwyth University
Why might this be relevant?
Partially relevant as it focuses on innovation management and leadership but does not directly address improving the university spin-out system.
-
INnoVation and ENTrepreneurship in HEIs (Deep INVENTHEI)
Innovation and Entrepreneurship in Higher Education Institutions: DEEP INVENTHEI DEEP INVENTHEI sets up an international network of regional innovation partners which contribute to attracting and retaining talent by trai...
Funded by: Horizon Europe Guarantee
Lead research organisation: UNIVERSITY OF SHEFFIELD
Why might this be relevant?
Partially relevant as it focuses on attracting and retaining talent and supporting academic spin-offs, but does not address all aspects of improving the university spin-outs ecosystem.
-
HEI Consortium INnoVation and ENTrepreneurship in HEIs (INVENTHEI)
Innovation and Entrepreneurship in Higher Education Institutions (INVENTHEI) The University of Sheffield is participating as a partner in INVENTHEI, a project co-funded by the European Institute of Technology (EIT) Highe...
Funded by: Horizon Europe Guarantee
Lead research organisation: UNIVERSITY OF SHEFFIELD
Why might this be relevant?
Partially relevant as it focuses on training entrepreneurs and innovators, enhancing regional innovation ecosystems, and promoting innovation-driven research, but does not cover all aspects of improving the university spin-outs ecosystem.