Luke Hamm, CEO at GovGrant, the innovation and R&D tax specialists, responds to the launch of the UK R&D roadmap:
“The R&D Roadmap should be the start of a vital conversation around how we approach R&D and innovation in this country. The roadmap is at the heart of the Government’s strategy to level up the UK economy and build a better Britain.
“It’s encouraging to see the Government committing to a strategy of investing in innovation, attracting talent and upskilling workers. If we want to be a global player we need to develop unique skills and industries, encouraging international collaboration and cutting red tape. Every time that a UK company invests in commercialising innovation by developing an idea to a scalable product or service, it is investing in the long-term future of the UK economy and creating valuable future-proofed jobs.
“We need to reward any business that embraces risk to drive growth for the UK. While the roadmap is a signal of commitment and support for entrepreneurs, the devil is in the detail and we need to see the follow up.
“Innovation is taking place right now in businesses up and down the country, across all sectors and regions – it’s not the exclusive preserve of labs, the scientific community and universities. We need to ensure innovation and IP continue to be accessible and commercial. GovGrant works with innovators, risk-takers backing and entrepreneurs every day – helping them to work with HMRC and the tax system as a quick, efficient, established and sector-agnostic way of funding all innovation in businesses.”