The British Academy welcomes the Royal Academy of Engineering’s 'Investing in Innovation'

The British Academy welcomes the Royal Academy of Engineering’s report Investing in Innovation. This report builds on the case made by all four National Academies for investment in our research base, in the report Building a Stronger Future. 
 
It is essential to create an atmosphere in the UK that is supportive of innovation if we are to achieve growth in the UK and compete globally. Supporting innovation no doubt extends beyond supporting research – it is about creating the right policy environment to make the UK an attractive location for innovative businesses, and it is about providing support to gain impact and economic value from the world-leading research in the UK. The creative industries are a thriving area in the UK where arts and humanities subjects work together with technologies to create innovative products and ways of working. 
 
There is good evidence that public sector investment is highly effective in leveraging private sector investment, and hence support for innovation represents a sound investment. At this point in time when productivity and growth are key, the British Acadmey agrees with the Royal Academy of Engineering that investment in innovation is critical.