Ewan Kirk urges Innovate UK to transition from its traditional grant-led model to making equity investments in tech firms, enhancing alignment with government economic goals.
Kirk criticizes Innovate UK’s bureaucratic grant system, which has created a consultant sub-industry. He advocates for simplifying the process and building on the agency's successes.
Under Stella Peace's leadership, Innovate UK faces scrutiny over efficiency, especially after a controversial handling of the Women in Innovation awards, with only 25 grants awarded.
Despite the challenges, Innovate UK successfully matched £40 million in grants with £123 million in equity investments last year, showcasing potential for a strategic investment future.
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