Iain Gray: support will be flexible.
In “Connect and Catalyse – a strategy for business innovation”, Chief Executive Iain Gray summarises the TSB’s role as, “Ensuring that the UK is in the forefront of technology-enabled innovation.”
To achieve this the TSB says it will provide innovation leadership, promote knowledge exchange, build networks, invest in new ideas, stimulate new areas of activity for business and provide a longer term view of future technology and innovation needs across the UK economy and globally.
Over the next three years, TSB’s investments will be directed according to three main themes: response to societal and economic challenges; innovation inspired by existing and emerging technology, where the UK leads or could lead; and the innovation climate – that is creating the culture in which innovation can grow.
In terms of specific activity this will mean helping business find opportunities in challenges such as climate change and the ageing population; doubling the number of Innovation Platforms from five to ten to take a new cross disciplinary approaches to these challenges; developing strategies in key market application areas representing major societal or economic challenges to the UK; promoting the rapid commercialisation of emerging technologies and industries; doubling the number of Knowledge Transfer Partnerships, and making them more flexible; carrying out a strategic review of Knowledge Transfer Networks, and reinforcing and extending their role; piloting a reformed Small Business Research Initiative; and maximising the positive impact of government procurement on innovation.
Gray said that working in concert with the Regional Development Agencies, Devolved Assemblies and Research Councils, the TSB will invest over £1 billion in the next three years to promote and support innovation. He claimed that given the TSB’s proven ability to obtain matching private sector investment, this will double to over £2 billion.
Gray promised to ensure the support provided is flexible and meets the needs of business, and undertook to simplify and streamline delivery of programmes. The TSB will invest in some areas with a higher level of risk, as part of a balanced portfolio, and will evaluate investments to keep them effective.
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