Science and Technology: New Businesses
The question
To ask the Secretary of State for Science, Innovation and Technology, if he will make an assessment of the potential impact of (a) housing costs and (b) the cost of living on (i) start-ups and (ii) innovation in the (A) science and (B) technology sectors.
Answered by Feryal Clark
DSIT supports startups and innovation across the UK, including through the UK’s innovation agency - Innovate UK. Over the last two years, Innovate UK has awarded £5.2 billion funding to more than 7,000 businesses across the UK.
Innovate UK published the State of Innovation 2024 report on 6 December. This draws on data from over 2,000 UK businesses, to provide a view of businesses’ innovation activities, challenges and plans for the year ahead.
The report does not specifically assess housing costs and cost of living, but assesses trends in barriers to innovation, including the cost of doing business, which will include these areas.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →