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South East businesses claim £1.3bn for innovation with R&D tax credits

South East businesses claimed the second-highest number of research and development (R&D) tax credits than any other region for the 19/20 financial year, according to HMRC’s R&D tax relief report, which was released on 30 September 2021.

London claimed the first spot.

£1.3bn was received by South East registered businesses, with a total of 12,740 claims, a number that will continue to grow as 19/20 years remain open for claims until March 2022. The average claim amount was £104,000.

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The report shows a 20% increase in the total amount claimed by South East businesses, with a 17% increase in the number of claims, from tax year 18/19 to 19/20.

According to the report, the sectors where the highest number of R&D claims across the UK were made are Information and Communication (22%), Manufacturing (22%) and Professional, Scientific and Technical (19%) sectors, accounting for 20%, 25% and 24% of the total amount claimed, respectively.

Leslie Maloney said: “The uplift in the number of R&D tax relief claims in the South East represents an increasing awareness of HMRC’s tax relief scheme and increasing innovation within the region, which is wonderful to see.

“The key take-aways from this year’s R&D tax credit report is the two growth areas in Professional, Scientific and Technical and Information and Communication, both of which saw significant expansion in number of claims made in 2019-20.

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“I personally believe this report shows opportunity for real growth for innovative businesses in the South East, particularly in those high growth sectors and a shift towards the new economy. The more traditional sectors like Manufacturing and Construction have been claiming R&D for many years and we expect this to continue but for Professional, Scientific and Technical and Information and Communication to be the main drivers of growth in helping the country to recover economically. This will be reflected in 2022’s report.”

The average claim value across the UK is sitting at approximately £57,000. There has however been an increase in the number of claims made from last year, from 74,200 to 85,900 and this figure will certainly increase.

R&D tax credits are a HMRC incentive to encourage UK businesses to continue to grow by innovating. The incentive being a reduction in corporation tax or a cash payment.

Story by Barney Cotton

Source: Business Leader

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Innovate UK support boosts jobs and R&D spend for AI sector

An Ipsos MORI study finds Innovate UK grant support has created jobs and new opportunities in artificial intelligence (AI) across the UK.

Support by Innovate UK for the burgeoning AI sector has boosted the number of jobs by over 1,100 and has seen grant funding of £323 million matched by £202 million of private investment.

The findings are revealed in a new study carried out by market research company Ipsos MORI on behalf of Innovate UK.

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Key findings are:

  • Innovate UK had increased the research and development (R&D) spending of recipient firms by £313 million to £666 million by the end of 2019
  • around 70% of firms awarded funding secured follow-on funding for subsequent development
  • around 20% of lead applicants secured follow-on equity investment, collectively raising over £750 million after being awarded funding
  • notable deals included funding rounds of over £40 million by Healthy.io, Rigetti, SoftIron, Tessian, and Yoyo
  • support provided by Innovate UK made a significant contribution, increasing equity investment raised by companies by 5.3% to 16.4%
  • Innovate UK committed £323 million in grant funding for the 757 projects within the scope of this evaluation
  • grants matched by approximately £202 million in private funding
  • jobs created totalled 1,132, of which 400 were R&D jobs.

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Sara El-Hanfy, Innovation Lead, Machine Learning and Data of Innovate UK, said: “We are supporting some of the brightest prospects in British business to develop and deploy AI technologies. These technologies are already on the way to revolutionise the economy and society.

“It is vital that the UK maintains its position in this global sector and it is clear from the findings in this study that Innovate UK’s support is making a real difference.”

Source: Cambridge Network

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Research initiative handed Innovate UK funding

Oxfordshire-based Nexeon, which is developing advanced silicon materials for next generation lithium ion batteries, has secured funding from Innovate UK for a new collaborative research initiative.

The £1.5m Silicon Anode Battery for Rapid Electrification (SABRE) project will develop battery cells with higher energy density in response to the demand for increased electric vehicle driving range.

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The SABRE project has been awarded funding from the Faraday Battery Challenge at UK Research and Innovation.

Nexeon will work with its partners Britishvolt and University College London (UCL) to deliver test cells with a combination of advanced Li-ion cell design and novel silicon anode material.

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“We are very excited to lead this important work, and to collaborate with our partners in designing and producing higher performance battery cells,” said Dr Scott Brown, chief executive of Nexeon.

“This project, and others like it, are important in building a UK-based lithium ion battery capability, and reducing risk in an increasingly competitive supply chain.”

By Storm Rannard

Source: Insider Media

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UK construction companies are increasing their investment in innovation

UK construction companies are increasing their investment in innovation, with research and development (R&D) expenditure rising by £70 million, according to new figures released by HMRC.

Analysis by IronmongeryDirect revealed that in the first part of 2018/19, construction firms spent £1.36 billion on qualifying projects. Even though many claims have yet to be submitted for that financial year, this is already 5.4% more than the whole of 2017/18 (£1.29 billion).

Using the government’s R&D Tax Credit Scheme, companies can claim back up to 33p for every pound spent on R&D activity. This includes any project that aims to advance the industry by researching or developing a new process, product or service, or improving an existing one.

For such work completed during 2018/19, construction companies have already claimed £235 million of Corporation Tax relief.

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More companies in the sector are starting to take advantage of the scheme, as the latest data shows overall number of claims is also on the rise. So far, construction businesses have made 3,340 claims for R&D funding, which is a year-on-year increase of 1.8% (60). The industry now represents 5.7% of all R&D claims in the UK.

The majority of the construction-related R&D projects are classed as ‘specialised construction activities’. These account for two-thirds (66%) of the sector’s claims, way ahead of ‘construction of buildings’ in second place (21%).

However, the most valuable construction R&D claims are those labelled as ‘civil engineering’. Across the whole industry, the average R&D claim in 2018/19 was worth £70,359 – almost 5% higher (£3,286) than the year before (£67,073) – but the figure is far greater for civil engineering projects. The typical amount of tax relief awarded to such work is £129,412.

The totals also vary significantly across the UK. The most innovative area is London, with more claims made in the capital than any other part of the nation (455).

But it is Northern Ireland where construction represents the greatest percentage of a region’s total R&D claims. More than one in ten (11%) of the country’s qualifying projects fall within the industry (180/1,605).

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Despite only making the fourth highest number of claims, construction firms in the North-West of England are investing the most money in innovation. Its businesses have already registered £145 million of R&D spend for 2018/19 – more than any other area.

The regions which have made the most and least claims for construction R&D funding for 2018/19, so far, are:

  1. London – 455 claims (£55m)  
  2. South East – 425 (£85m)  
  3. East of England – 400 (£5m)  
  4. North West – 375 (£145m)  
  5. West Midlands – 295 (£10m)  
  6. Yorkshire and the Humber – 255 (£85m)  
  7. South West – 250 (£10m)  
  8. East Midlands – 215 (£10m)  
  9. Northern Ireland – 180 (<£5m)  
  10. North East – 165 (£40m)  
  11. Scotland – 165 (£10m)  
  12. Wales – 155 (<£5m)  

Dominick Sandford, Director and Head of Merchandising & Marketing at IronmongeryDirect, said: “It’s encouraging to see that so many UK construction companies are taking advantage of the R&D Tax Credit scheme. Our businesses are world-leaders for innovation and the HMRC initiative is designed to reward them for their pioneering work.  

“The tax relief can provide a welcome boost for construction firms and any money saved can even be reinvested to finance further research.”  

By Jonathan Symcox

Source: Business Cloud

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Farmers urged not to miss out on 230% R&D tax credit

One of the country’s top agricultural accountants has said UK farmers could do more to capitalise on a lucrative tax break designed to encourage investment in research and development (R&D).

Addressing members of the Guild of Agricultural Journalists in Northern Ireland on Thursday (May 13), Seamus McCaffrey said businesses that are registered as companies could avail of as much as 230% tax credit for money invested in R&D.

McCaffrey, who specialises in farming taxation matters, said trialling different seed varieties, farm technology, or experimenting with different feeding regimes, cattle genetics or types of lighting (for example, in a poultry house), could all be eligible.

“It’s very useful but it’s important to note that it applies to companies only,” he said.

“A surprising amount of R&D is carried out on farms. If a farmer is doing reseeding and he does a bit of trial and error with different types of grass seed, that can constitute R&D. The extra costs involved in that constitutes research and development costs, and could thereby entitle the company to claim a 230% tax credit.”

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Are My Farm Trials Eligible?

To claim the credit, the company must self-certify in its annual accounts. However, McCaffrey warned the company must also retain evidence of carrying out the trials.

“So you just can’t decide at the end of the year that the company has a big tax bill and say ‘I did R&D’ – you’ll not get away with that. There must be a bit of resource allocated to it demonstrating and recording the fact research had been carried out,” he said.

“If, for the sake of argument, we are talking about reseeding, and we are claiming that we are spending money on trials then you could have emails backwards and forwards with the grass seed supplier discussing what kind of research you want to do as evidence – that kind of thing.

“Detailed records must be kept and they must be kept for four years because that’s how far back the revenue can ask for them.

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“You must also keep evidence of the results. It doesn’t matter whether the result is good or bad, it’s the fact that R&D has been carried out.”

The research must also be applicable to your own farm, so McCaffrey highlights that testing whether research carried out overseas or in different parts off the UK and Ireland applies to your specific enterprise could also be eligible.

“A lot of farmers already do R&D work on the farm but don’t realise they are doing it. They often don’t realise to raise it with their accountant because they simply didn’t know that the R&D work they are carrying out on the farm is eligible for the extra 230%.

“Some people imagine or think that R&D means you have to be linked to a university or that you have to have a dedicated research facility – you don’t have to have anything like that,” he concluded.

By Rachel Martin

Source: AgriLand

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Firm turns up the heat with more Innovate UK funding

An electric heating solutions business has received more funding from Innovate UK, to help it continue the development and launch of a digital thermostat that will work remotely on its electrical radiator systems.

Garforth-based Trust Electric Heating will invest £70,000 into its research and development programme, which aims to help eliminate fuel poverty for vulnerable people across the UK.

The project, which is being driven via a Knowledge Transfer Partnership with the University of Huddersfield, has already seen the creation of an integrated smart thermostat for Trust Electric’s own range of heaters.

The new round of funding will focus on the development of “CAVE”, due to its focus on solving fuel poverty issues for “Confined, Adults who are Vulnerable and Elderly”.

The web-based technology enables remote monitoring, diagnosis and control of electric heating systems, providing help and support for many who struggle with digital thermostat programming.

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“Fuel poverty is an issue for everyone,” said Trust Electric’s managing director Fiona Conor, who is leading the project team in partnership with the University of Huddersfield.

“During the pandemic it has been highlighted that many vulnerable adults are having challenges controlling their heating.

“Ordinarily, we would schedule a visit but this can take up to two weeks, which causes frustration and affects the well-being of the customer.

“However, under current circumstances, a home visit is not an option for many customers who are self-isolating.

“When smart thermostats were launched, no one really thought about less-digitally savvy people.

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“Some customers simply turn their thermostats to manual and lose the advantages that are available on energy savings.

“Everyone offers big button controls but they are forgotten as customers don’t really know how to control their thermostats.

“Our CAVE thermostat gives us full remote control. We can look at timings and discuss energy efficiency together.

“Our web-based interface sends ‘traffic light’ signals, giving us an amber warning for a variety of faults.

“This then enables our office to put in a quick call to the individual without visiting the property, and stops the problems this group encounters such as waiting for engineers to visit if something is not working.”

By Miran Rahman

Source: The Business Desk

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Potential impacts to your R&D tax claim

The 2021 budget announcement limits the size of some R&D tax cash benefits, but will it impact your claim?

The R&D tax credit scheme rewards companies for facing challenges and uncertainties by developing new processes or methodologies or improving on existing ones (technological advancements). All while using a systematic approach.

In the construction industry, the general activity of most companies will not be driven by technological advancements instead, they are generally driven by a client-led goal e.g. renovating a listed building. The way the construction industry advances, especially within the SME market, is through the challenges it faces. 

On Wednesday 3rd March, Rishi Sunak made possibly one of the most important modern budget announcements, outlining the plan to get our economy back on-track and providing us with insight regarding: the increase in corporation tax, the impact this will have on research & development expenditure credit (RDEC) and SMEs, the super deduction and, finally, the R&D tax review.

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Corporation tax

The rate of corporation tax will increase to 25% from April 2023, a 6% increase from the current rate of 19%. The increase is expected to raise £22bn in revenues per year whilst keeping the UK’s rate of corporation tax as the lowest in the G7.

The smallest companies will not be affected as a small profits rate will be introduced for businesses with less than £50,000 profit. These businesses, which is estimated to account for 70% of actively trading companies, will continue to pay corporation tax at the current rate of 19%. A tapered rate will also be introduced for profits of over £50,000 so that only businesses with profits above £250,000 will be taxed at the full rate of 25%.

Super-deduction

For a two-year period from 1st April 2021 until 31st March 2023 businesses will be able to claim the super-deduction on their investment in qualifying plant and machinery. This will allow companies to deduct 130% of what they invest from their taxable profits in the form of a capital allowance. This equates to a saving of 25p for every £1 invested in plant and machinery.

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The aim is to encourage businesses to invest. Levels of business investment in the UK, already low in comparison with the UK’s peers, have fallen sharply during the pandemic with a reduction of 11.6% between Q3 2019 and Q3 2020. The super-deduction aims to give companies the incentive and the confidence to invest in their business and ultimately promote economic growth.

R&D tax consultation

The government will be running a review of the R&D tax relief scheme which plays a vital part in promoting innovation and stimulating growth in the UK economy. The government has set a target or raising total investment in R&D to 2.4% of GDP by 2027. The consultation, therefore, aims to ensure that the current R&D tax relief schemes in the UK are still fit for purpose.

The consultation will seek the views of stakeholders on the R&D tax relief schemes currently in operation and will focus on:

  • Definitions, eligibility and scope of the reliefs – are they up to date with modern business practices and do they currently exclude activities that should qualify?
  • How well they operate for businesses and HMRC – are there ways they could be improved in terms of structure and administration?
  • Targeting of the reliefs – do they maximise the value of R&D activity for the UK economy.

Source: The Construction Index

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R&D threat “averted”, as government adds £250m this year

Scientists and researchers in the UK will be given an extra £250m in funding this year, to support “pioneering research” and drive the UK’s ambitions to become a “science superpower”, the country’s government has announced.

The funding will help to pay for the UK’s association with Horizon Europe, the European Union’s funding program for research and innovation. The announcement comes after Universities UK expressed concerns about how the UK’s participation in the scheme was to be funded.

UUK had argued that if the Department for Business, Energy and Industrial Strategy was required to fund the costs of participation out of the existing science budget, it would amount to an effective cut of something in excess of £1bn.

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Now the government has said that UK scientists will have access to more public funding “than ever before”. The new funding will take total government investment in R&D to £14.9 billion in 2021/22 and follows four years of significant growth in R&D funding, including a boost of more than £1.5bn in 2020/21.

“This investment reinforces the government’s commitment to putting research and development at the heart of plans to build back better from the pandemic,” BEIS said in a statement.

“It will support vital and pioneering research while enabling the UK’s brilliant scientists, researchers and businesses to access and benefit from the world’s largest collaborative research programme, Horizon Europe – worth around €95 billion over the next decade.”

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Last month the government announced the new Advanced Research & Invention Agency, backed with £800 million by 2024/25 and tasked with funding “high-risk, high-payoff research that offers the chance of high rewards, supporting ground-breaking discoveries that could transform people’s lives for the better”.

BEIS said that the government remains committed to reaching its target of 2.4% of GDP being spent on R&D across the UK economy by 2027 and increasing the budget for research and development to £22bn.

“We are very pleased that the government has averted threats to UK science and research by allocating additional funding to support the UK’s association to Horizon Europe; and welcome their commitment to increase investment in R&D to 2.4% of GDP by 2027,” said Julia Buckingham, president of UUK.

“Given current pressures on public finances this is a significant affirmation of the government’s belief in research, recognising the pivotal role it plays in the UK’s current and future prosperity, and ensuring UK universities will remain at the forefront of efforts to address the most pressing global challenges,” she added.

By Will Nott

Source: The Pie News

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More Money for R&D After Scientists Warn on ‘Catastrophic Cuts’

The Government announced an extra £250 million to support research and development (R&D) after leading scientists warned of “catastrophic” cuts to research budgets that they said could cost the sector billions of pounds and demolish Boris Johnson’s ambition to make the UK a science superpower.

Their concerns centre around a ‘triple whammy’ of cuts to the Official Development Assistance (ODA) budget, the cost of staying in the EU’s Horizon Europe project, and the impact of COVID-19 on funding for medical research charities.

They have warned that the impact will cost jobs and allow the UK’s competitors to fill the science gap.

“Some of the cuts that we have been hearing about would be catastrophic, even existential,” according to Nobel laureate Sir Paul Nurse. Sir Paul, who is chief executive officer at the Francis Crick Institute, said: “It will drive scientists elsewhere, it will destroy networks, it will damage the UK’s soft power… to make connections throughout the world, which is of course another policy of government. None of this makes any sense.”

Prof Peter Piot, director of the London School of Hygiene & Tropical Medicine, warned that unless the cuts were urgently restored, “the damage may be irreversible” and would take years to turn around.

“At stake is not only the reputation of the UK and the credibility of the promises, but really the whole science enterprise and the relationship with the rest of the world,” he told a briefing hosted by the Science Media Centre this week.

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Funding for EU’s Horizon Europe Programme

Concerns were heightened by the Chancellor of the Exchequer’s Budget last month which focused extra spending on recovery from the pandemic but failed to announce provision for the UK’s associate membership of Horizon Europe.

Participation in Horizon Europe was agreed as part of the Brexit trade deal. Previously, membership of the research programme’s predecessor, Horizon 2020, was paid for out of the UK’s contribution to the EU’s budget.

Now, scientists are worried that, without a Treasury funding commitment, the cost of membership might have to be met by UK Research and Innovation (UKRI), the umbrella agency that directs the Government’s science funding, from its existing resources.

“I think there’s widespread agreement that, working through the numbers, the bill will average about £2 billion per year over the 7 years of the programme,” according to Prof Sarah Main, executive director of the Campaign for Science and Engineering.

Meeting a commitment on this scale without a Government spending promise “will require huge disruption to scientific programmes across the UK science portfolio,” she said.

Last week, the Commons Science and Technology Committee published a letter to the Prime Minister in which it expressed alarm about potential cuts.

It welcomed the Government’s commitment to increase R&D expenditure to £22 billion a year by 2024-25, and to invest 2.4% of gross domestic product in R&D by 2027.

However, it described as “devastating” any suggestion that the UKRI budget could be effectively cut by almost a quarter, ” which would reverse 2 years of intended increases and mean that the ambition for Britain to be a Science Superpower would be deferred for much of this Parliament”.

Cuts to Overseas Development Budget

On March 11, UKRI announced a £120 million shortfall for research funded from the overseas development budget for the upcoming financial year as a result of cuts to the Department for Business, Energy & Industrial Strategy’s ODA allocation. It warned that some grants would have to be reduced, and others terminated.

“The problems addressed by international development research are not isolated overseas,” commented Prof David Price, vice-provost of University College London. “Raising levels of health, wellbeing, and prosperity in low- and middle-income countries serves the UK’s interests too. A ‘Global Britain’’ will need trading partners, engaged allies, and nations that recognise our mutual interests.”

The cuts had already forced universities to abandon current research projects with international partners, Universities UK said in a letter last month to Boris Johnson.

Prof Julia Buckingham, president of Universities UK and vice-chancellor of Brunel University London, warned of a ‘brain drain’ without a change of course.

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“Once lost, research capacity takes a very long time to rebuild, and the UK will lose ground to other countries in Europe and around the world,” she said, noting that the US and China “are currently ramping up their investments in science”.

Medical Charities Have Seen a Fall in Funding

Current funding uncertainty for science coincides with a drop in fundraising revenue for medical research charities of 41% due to the pandemic.

The Association of Medical Research Charities (AMRC) said despite reliance on science and the UK’s research base to help lift the country out of the crisis, the Government had “chosen yet again not to provide any clear support for charity-funded medical research in the Budget”.

Hilary Reynolds, AMRC chief executive, said: “Research has saved millions of lives during this pandemic – now we must save research.”

Prof Paul Workman, chief executive of The Institute of Cancer Research, said: “Cutting the UK research budget now would be catastrophic for science – delaying important discoveries, robbing patients of a better future, and missing a golden opportunity to fuel our economic recovery from COVID-19.

“Such deep cuts would be incompatible with the Prime Minister’s own vision of the UK as a global science superpower.”

Sir Paul Nurse appealed for ministers to protect the UK’s science budget. “I am sure the Government will see sense over this,” he said. “I mean they cannot possibly not see sense, because it is all so very obvious if you just listen to what everybody has to say. If they can’t see sense, they have no right to govern.”

£250 Billion Funding

On April 1, the Department for Business, Energy & Industrial Strategy (BEIS) said its allocation of an extra £250 billion took total Government investment in R&D to £14.9 billion in 2021-22, which it said was the highest level in four decades.

It promised that associated membership of Horizon Europe would involve paying a “fair and appropriate” share into the programme’s budget. Ongoing UK research projects already awarded under Horizon 2020 would continue to receive funding.

A spokesperson for BEIS said: “We are working with our delivery partners, including UK Research and Innovation, to implement a new research and development settlement for 2021/22 – which includes our participation in Horizon Europe – as part of our wider commitment to maintain the UK’s world class reputation for science, research, and innovation.

“In particular, this year alone we will spend more than £10 billion to address poverty, tackle climate change, fight COVID, and improve global health.

“We are also backing our new Advanced Research and Invention Agency with £800 million to support transformational high risk, high reward science.”

By Peter Russell

Source: Medscape

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Innovate UK boost for a lithium drilling project

A leading firm in Cornwall’s burgeoning lithium mining industry has received a £3million boost from the Government’s innovation agency.

Innovate UK has given £2,902,126 to Roche-based British Lithium Ltd for a pilot scheme to drill for the valuable car battery metal near St Austell.

British Lithium has become the first company in the UK to extract lithium, from granite in Cornwall, and has already received £500,000 from Innovate UK in 2020.

The metal is used in batteries for electric cars, and could eventually attract electric battery gigafactories to the UK. It has received the cash because the Government is keen to “transition to an electric vehicle future post Covid-19”.

The project is one of four in the South West, amid 19 in the UK, to win Innovate UK backing because they are aiming to cut CO2 and help the environment and address the economic effects of the pandemic and help power an economic recovery.

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Also winning cash are Bristol’s iCOMAT, which has been given £1,936,494 to develop lightweight automotive fibre-steered structures; while Dorset’s Mas Design Products Ltd, with £986,160 for development of zero-carbon transport.

And Wiltshire’s Naturbeads Ltd, received £170,479 to create cellulose microbeads. The eco-start-up aims to develop a new process that turns cellulose from fibres into spherical form to replace microplastic beads. Microplastics, often used in personal care products, are polluting, whilst cellulose is natural, renewable and 100% biodegradable.

In total, the 19 projects around the UK have received £27million of Government funding under the Sustainable Innovation Fund (SIF). Other projects include one that aims to make tidal power generation commercially viable; and another that recovers high-value polymers from currently incinerated NHS waste, saving thousands of tonnes of CO2.

Innovate UK’s SIF was announced by ministers in June 2020. Totalling £200million, the fund ensures that innovative ideas and projects led by companies recovering from the impact of coronavirus will not be lost.

It helps power the UK’s economic recovery and develop new sustainable opportunities, while supporting the UK’s goals to cut carbon emissions to net zero by 2050.

Among other projects winning support is Glasgow-based Flex Marine Power Ltd, which has been awarded £1.9million to develop its SwimmerTurbine, a 50kW tidal turbine. This aims to make the harnessing of the UK’s abundant tidal resource for power generation commercially feasible

And with the pandemic resulting in an increase in NHS clinical waste, Tyneside-based Impact Recycling Limited will use its technology to recover high-value polymers from currently incinerated waste.

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Receiving £3million in funding, the project will recycle a stream of sterilised clinical medical waste from NHS Scotland, directly saving up to 87,500 tonnes of CO2 emissions annually based on this NHS contract alone.

All the funding delivered through Innovate UK forms part of a wider £750million package of grants and loans announced in April 2020 to support innovative firms. This sits alongside the new £500million Future Fund, which provides match-funding to private investors.

In the past year Innovate UK has supported UK firms with £550million of grants and loans as part of its Covid-19 response. In total 1,090 SIF projects have been supported with £160million.

Energy minister Anne-Marie Trevelyan said: “Reaching our net zero goal will mean harnessing the innovation and creativity of entrepreneurs across the country, which is why I am thrilled to see Innovate UK backing these excellent projects across the UK.

“It is precisely this kind of ingenuity which will help us to build back greener from the pandemic. I look forward to seeing how these projects make the most of this funding in the months and years ahead.”

Simon Edmonds, deputy executive chair and chief business officer, Innovate UK, said: “UK innovators have risen to the challenge of the pandemic to come up with big, bold ideas to help the economy roar back in a sustainable way. By supporting enterprise and academia all over the country, Innovate UK is backing not only business but our net-zero goals.”

By William Telford

Source: Business Live

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