A Nation of Innovators

Civitas has partnered with the Bessemer Society and the ERA
Foundation to contribute to the new UK Industrial Strategy. Our objective is to
identify barriers to growth, and suggest practical measures that will boost
advanced manufacturing in the UK. Our proposals draw on the business experience
of innovators and serial entrepreneurs at the Bessemer Society, who have all
founded companies to develop smart innovations in the UK.



Growth capital is an essential ingredient to innovator-led
growth. Today, however, access to growth capital is the single biggest
challenge facing UK innovators. This paper suggests ways the Government can
encourage and incentivise investment, so innovators will find it easier to
commercialise their products in the UK.



Government procurement is another challenge for innovators.
This is because defence and health are a prime focus for UK engineering
expertise. The Government wants SMEs to help make defence procurement more
agile. But little will change unless procurement bodies learn how to partner
with innovators.



Industrial clusters are a great British success story. This
report suggests ways public policy can encourage growth, and regional
specialisation. This will boost exports.



Lastly, this report analyses skills. Low skills availability
is a debilitating challenge for early-stage SMEs. Many UK engineers are forced
to look overseas to find skills they need to build advanced manufacturing in
the UK. Independent skills training could help.



Our message is positive. The UK is still a nation of
inventors. If we get better at commercialising home-grown intellectual
property, we can grow large, advanced-manufacturing businesses. We can build
competitive advantage in UK technologies. And we can anchor supply chains and
high-value jobs here in the UK.