1. For the Chemistry Council to deliver its strategy, it needs to accelerate the rate of innovation and support the commercialisation of innovation in the UK.
This will be done through four innovation themes:
- Delivering Advanced Materials and Molecules
- Creating a pipeline of Green Supply Chains
- Facilitating new Energy Storage and Distribution
- Increasing productivity through Digitisation and Big Data
These themes comprise 12 programmes which support the four UK Grand Challenges within Government’s Industrial Strategy.
- Delivering Clean Growth
- Delivering new Materials for Mobility
- Enhancing health and well-being for an Ageing population
- Creating competitive advantage by innovative use of Data and Digitisation
2. Underpinning the innovation programmes will be:
- Securing significant funding and industry/Government partnership in order to facilitate collaboration between companies and academia to work together to develop and implement large-scale innovation programmes with supporting critical technology and skills.
- Providing incentives to support investment in large scale R&D facilities in the UK by multinationals supporting the Government’s target of 3% of GDP spend on R&D in line with other countries.
- Providing fiscal structures to support SMEs to grow to full scale manufacture in the UK. The current facilitators such as capital allowances and the patent box should be strengthened to ensure that they are competitive with other countries. Structures such as flow-through shares have proven to be successful in other countries and should be considered.
- Ensuring existing institutions are strengthened and well connected.