Innovate UK budget to rise by 50%
The October Budget and Spending Review announces Innovate UK’s budget will grow to £1 billion by by 2024/25, up from £667 million in 2021/22- a 50% increase in 3 years, bringing Innovate UK spending close to that of Engineering and Physical Sciences Research Council (EPSRC). Whilst welcome the support for latter stage innovation, the PLG…