Evidence synthesis on the conditions needed to translate research and drive innovation
The aim of this study is to understand the conditions needed to translate research and drive innovation. As the UK government works towards its commitment to increase investment in research and development (R&D) to 2.4% of gross domestic product (GDP) by 2027, there is a need for better evidence to inform decisions about how and where that investment is made. In this context, RAND Europe was commissioned by the Steering Group of the National Academies to synthesise evidence on the conditions that enable research and innovation, including that which is publicly supported, across different disciplines, to result in a range of benefits; how such conditions interact in different environments and throughout the lifecycle of research translation and innovation; how the effectiveness of different levers used to facilitate research translation and innovation has been measured, and how those measures might be made more robust; the barriers to translating research and driving innovation. This study investigated the conditions that support innovation in the UK economy, drawing from four distinct sectors to evidence the conclusions: pharmaceutical and life sciences; defence; financial technology (fintech); and creative economy.