"Collaboration is key to innovation" explained Dr Ian Campbell Interim Executive Chair, Innovate UK - Interim Executive at the 'Innovate UK: Investing in Innovation' IET Central London Evening Lecture held at IET Savoy Place. The UK has excellent academic and research ideas which allow it to be ranked 5th in the Global Innovation Index, however we can do more, and its just that what Innovate UK is currently helping many inventors, entrepreneurs and business founders do (oh, and the Venture Capitalists).Innovate UK, is not only helping to bridge business gaps, but itself, has taken a lead role in ensuring the entire circular economic proposition of the solution is accommodated. So not only funding the product cycle process, but they enable entire supply networks to be stood up for swifter go to market strategies and for return on investment to be realised quicker. This is specifically achieved as they are able to fund directly through grants and using quarterly oversight mechanisms, they can ensure that all spending is achieved to promote progressive categories, such as benefits to society and competitiveness.


Dr Campbell shared an interesting observation, where a main cultural difference in innovation between California and the UK was that, failure itself was celebrated in California, whilst in the UK, it is often seen as academic failure. It is these mindsets that are now changing to ensure innovation is remaining fresh within the UK.