{"id":2235,"date":"2017-07-26T18:16:23","date_gmt":"2017-07-26T12:46:23","guid":{"rendered":"https:\/\/www.delveinsight.com\/blog\/?p=2235"},"modified":"2021-10-12T11:37:58","modified_gmt":"2021-10-12T06:07:58","slug":"the-snippet-business-focused-innovate-uk-aiming-to-drive-efforts-to-commercialize-research-gains-funding","status":"publish","type":"post","link":"https:\/\/www.delveinsight.com\/blog\/the-snippet-business-focused-innovate-uk-aiming-to-drive-efforts-to-commercialize-research-gains-funding","title":{"rendered":"Innovate the UK, aiming to drive efforts to commercialize research"},"content":{"rendered":"<p style=\"text-align: justify;\">The government of UK announced an extra \u00a34.7 billion (US$6.1 billion) into research and development (R&amp;D) by 2020\u201321, which allayed the fears of many UK scientists which had erupted ahead of Brexit. In this announcement, the biggest winner will be an innovation agency, Innovate UK. Previously known as Technology Strategy Board, it is a small government advisory panel of industrialists and civil servants. This body has rebranded itself to become a top funder and has its budget quadruple to around \u00a3800 million a year, which it has gained through research grants from various research organizations and businesses. This funding may now also include Industrial Strategy Challenge Fund (ISCF) to help researchers working on key technologies that might benefit the UK economy. The agency funds universities, but is more focused on businesses. Its largest beneficiary includes car-maker Rolls-Royce, which has received almost \u00a3300 million since 2007. In terms of universities, only 20% of its cash ends up there. The University of Sheffield is one such place where they do fund, which has strengths in engineering and manufacturing research, has received \u00a3150 million, for instance. Another instance of research funding is of a \u00a3150 million in the Cell and Gene Therapy Catapult in London. It has \u201cgalvanized\u201d UK researchers in the field, says Stuart Forbes, who works on regenerative medicine at the University of Edinburgh. He relied on its advice to help get a potential cell therapy for liver cirrhosis into phase II trials.<\/p>\n<p>To know more about this topic, click <a href=\"https:\/\/www.nature.com\/news\/budding-uk-innovation-agency-gains-cash-and-clout-1.22368\">UK to commercialize research<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of UK announced an extra \u00a34.7 billion (US$6.1 billion) into research and development (R&amp;D) by 2020\u201321, which allayed the fears of many UK scientists which had erupted ahead of Brexit. In this announcement, the biggest winner will be an innovation agency, Innovate UK. Previously known as Technology Strategy Board, it is a small [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[41],"tags":[786,716,962,923,963,696],"industry":[17225],"therapeutic_areas":[],"class_list":["post-2235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-snippets","tag-brexit","tag-funding","tag-innovate-uk","tag-innovation","tag-investor","tag-research-and-development","industry-pharmaceutical"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.8 (Yoast SEO v25.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Commercialization of research | Research &amp; Innovation | Innovate the UK<\/title>\n<meta name=\"description\" content=\"The government of UK announced an extra \u00a34.7 billion (US$6.1 billion) into research and development (R&amp;D) by 2020\u201321. DelveInsight...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.delveinsight.com\/blog\/the-snippet-business-focused-innovate-uk-aiming-to-drive-efforts-to-commercialize-research-gains-funding\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercialization of research | Research &amp; Innovation | Innovate the UK\" \/>\n<meta property=\"og:description\" content=\"The government of UK announced an extra \u00a34.7 billion (US$6.1 billion) into research and development (R&amp;D) by 2020\u201321. 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