Written questions by Turner.

Innovation and Technology, what discussions he has had with small business organisations on the performance of Innovate UK.

Supporting innovative small firms is a key objective of the government’s growth mission. My department regularly engages with business organisations to understand the needs of their members. 86% of Innovate UK grant funding goes to SMEs, with 8,000 SMEs supported in 2023 that were new to Innovate UK funding. Innovate UK’s connections to SMEs and innovators include 600+ skilled innovation & growth specialists across the UK through IUK Business Growth and IUK Business Connect. This network supports more than 10,000 SMEs a year on their innovation journey.

Innovation and Technology, whether he plans to review the decision of Innovate UK to close the Smart Grants Scheme.

Supporting innovative firms to flourish in the UK will be vital to delivering our Growth Mission. Innovate UK is redesigning its approach to better support these firms to scale and grow. Innovate UK has paused its Smart Grants offer so that it can work with startups and SMEs on improving this support and has invited feedback on how to do this. In Spring, it will pilot a new support package that it will evolve in partnership with businesses. An economic evaluation of the Smart Programme is being conducted to inform Innovate UK's overall strategy and its role in delivering the Industrial Strategy.

Innovation and Technology, what steps he plans to take to improve his Department’s support for UK SMEs.

The Department is committed to improving support for SMEs, working cross-government to remove barriers to growth, ensuring that SMEs have access to resources and expertise needed to develop and scale. For example, over the last 2 years, Innovate UK has awarded £5.2bn funding to more than 7,000 businesses spread across the UK, of which 86% were SMEsWe are also working to back UK tech startups through a range of policies that address the issues the sector cares about. This includes harnessing the benefits of AI, investment, skills, regulation, data and procurement.

Innovation and Technology what assessment his Department has made of the adequacy of the accessibility of Innovate UK funding for UK SMEs.

Supporting innovative small firms is a key objective of the government’s growth mission. My department regularly engages with business organisations to understand the needs of their members. 86% of Innovate UK grant funding goes to SMEs, with 8,000 SMEs supported in 2023 that were new to Innovate UK funding. Innovate UK’s connections to SMEs and innovators include 600+ skilled innovation & growth specialists across the UK through IUK Business Growth and IUK Business Connect. This network supports more than 10,000 SMEs a year on their innovation journey.

Innovation and Technology, what discussions he has held with Innovate UK on their decision to close the Smart Grants Scheme.

Supporting innovative firms to flourish in the UK will be vital to delivering our Growth Mission. Innovate UK is redesigning its approach to better support these firms to scale and grow. Innovate UK has paused its Smart Grants offer so that it can work with startups and SMEs on improving this support and has invited feedback on how to do this. In Spring, it will pilot a new support package that it will evolve in partnership with businesses. An economic evaluation of the Smart Programme is being conducted to inform Innovate UK's overall strategy and its role in delivering the Industrial Strategy.