Innovation: Finance
The question
To ask the Secretary of State for Science, Innovation and Technology, what steps her Department is taking to support locally led innovation investment.
Answered by Kanishka Narayan
I’m proud that just last month the Secretary of State announced we will devolve future Local Innovation Partnerships Funding to mayors of Established Mayoral Strategic Authorities.
This will put money and power into the hands of regional leaders that know their communities best.
And we are currently investing up to £500 million to help local leaders unleash their regions’ full innovation potential and create jobs, including £30 million for the Northeast.
This is real change at a local level, boosting the locally led industries and technologies that will drive the growth, jobs and businesses of the future.
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