Innovate UK has announced a new approach to support the government’s Modern Industrial Strategy. This centres on the highest potential companies and providing a holistic approach to tailored support.
It is hoped that this will help to stimulate growth and enable businesses to grow across six priority sections:
- advanced manufacturing
- clean energy industries
- creative industries
- defence
- life sciences
- digital and technologies
The strategic reset was set out in a new prospectus released last week during UK Tech Week.
Innovate UK’s ambition is to position itself as a trusted due diligence engine for the UK’s deep tech ecosystem. This means investors can have confidence that when Innovate UK supports a company, the rigorous technical validation has already been completed—helping to accelerate access to capital.
To deliver on this vision, Innovate UK is establishing specialist growth sector teams that will act as the driving force behind its offering.
It is also launching a new account management service, Velocity, designed to support high-potential businesses across their entire innovation journey—from initial engagement with Innovate UK through to capital raising and beyond.
This approach is intended to speed up the commercialisation of innovation, enabling companies to turn promising technologies into scalable, high-growth businesses.
With Innovate UK’s endorsement, investors should be assured that thorough technical due diligence has already taken place, making it a reliable gateway into the UK’s deep tech ecosystem. In turn, this will help de-risk investment decisions, attract more private capital, and reshape the growth trajectory of the UK’s most promising companies in ways the market alone cannot achieve.
