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star this property registered interest false more like this
star this property date less than 2016-11-07more like thismore than 2016-11-07
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Innovation remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effectiveness of government funding in promoting innovation through (a) Research Councils, (b) Innovate UK, (c) Catapult and (d) other bodies. more like this
star this property tabling member constituency Newcastle upon Tyne Central more like this
star this property tabling member printed
Chi Onwurah remove filter
star this property uin 52152 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2016-11-14more like thismore than 2016-11-14
star this property answer text <p><strong> </strong></p><p>The Research Councils’ collective ambition is to ensure the UK remains the best place in the world to do research, innovate and grow businesses for the benefit of society and the economy. Each Research Council publishes an annual impact report. The Research Excellence Framework is a periodic, selective assessment of the quality and impact of research produced by UK universities derived from a range of funding sources including Research Councils, Government bodies, industry and charities. It assesses both the excellence of the research and of the impact that excellent research has had on the economy and society. In 2014, 44% of submitted impacts were judged outstanding (4*) and a further 40% judged very considerable (3*).</p><p> </p><p>Innovate UK has evaluated the impact of its interventions showing that on average, for every £1 it has invested, there is a return of between £6.40 and £7.30 in GVA to the economy. It has supported innovation in 7,600 organisations, creating around 55,000 new jobs. Innovate UK grant support is shown to substantially increase UK firms’ innovation performance, with significant impacts noted for SMEs (with 10 to 250 employees) and large firms (with more than 250 employees).</p><p> </p><p>As many Catapults are still in the earlier stages of implementation, it is too early to fully assess the performance of the Catapult network. Key performance indicators are in place to help assess Catapult performance. Innovate UK will publish evaluation frameworks for Catapult centres this financial year.</p><p><strong> </strong></p>
star this property answering member constituency Orpington more like this
star this property answering member printed Joseph Johnson more like this
star this property question first answered
less than 2016-11-14T14:20:35.797Zmore like thismore than 2016-11-14T14:20:35.797Z
star this property answering member
4039
star this property label Biography information for Joseph Johnson more like this
unstar this property tabling member
4124
unstar this property label Biography information for Chi Onwurah more like this