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Concept to Commercialisation A strategy for business innovation, 2011-2015

Concept to Commercialisation A strategy for business innovation, 2011-2015. Our goal is to accelerate economic growth by stimulating and supporting business-led innovation. Our 5 Strategic Focus Areas. Accelerating the journey – from concept to commercialisation

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Concept to Commercialisation A strategy for business innovation, 2011-2015

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  1. Concept to Commercialisation A strategy for business innovation, 2011-2015

  2. Our goal is to accelerate economic growth by stimulating and supporting business-led innovation

  3. Our 5 Strategic Focus Areas • Accelerating the journey – from concept to commercialisation • How businesses can get to market sooner - and more effectively • Connecting the innovation landscape • Helping companies to find the best answers, expertise and help • Turning Government action into business opportunity • Where Government procures, regulates, standardises... • Investing in theme areas based on global potential • Large markets which the UK is equipped to exploit • Continuously improving our organisational capability • Impact assessment, metrics, measures, efficiency, effectiveness.

  4. The Toolset Smart Collaborative R&D Launchpad

  5. Smart Awards Proof of Market • Up to 9 months • Up to £25k grant • Up to 60% of project costs Proof of Concept • Up to 18 months • Up to £100k grant • Up to 60% of project costs Prototype Development • Up to 2 years • Up to £250k grant • Up to 35% of project costs (medium) or 45% of project costs (micro / small)

  6. Launchpad Stimulating cluster growth Pilot in Tech City • Launched April 2011 • Up to £100k grant for digital projects up to 1 year, 50% grant • 200+ video clip applications • 40 shortlisted for full applications • 18 grant offers – contingent on raising matching external finance within 1 year • 14 projects raised funds (equity from angels / crowdfunding, debt, partner development contracts) • 1 project complete... Makielab: from idea to product launch in 6 months and $1.4m funding raised Considering further Launchpads in 2013 and beyond

  7. Knowledge Transfer Networks Aerospace and Defence Biosciences Chemistry Innovation Creative Industries Electronics, Sensors & Photonics Energy Generation and Supply Environmental Sustainability ICT Financial Services HealthTech& Medicines Industrial Mathematics Materials Modern Built Environment Nanotechnology Transport

  8. _connect: open innovation platform

  9. _connect Investment Network

  10. www.innovateuk.org Nigel Walker Access to Finance Technology Strategy Board Nigel.walker@tsb.gov.uk 07824 418360

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