This is Nesta's formal submission to the Government's green paper 'Building our Industrial Strategy', setting out our thoughts on each of the 10 'pillars' within the green paper with areas we think that need further work, and references to relevant Nesta research and policy ideas.
In this formal submission, we highlight the importance not only of raising overall investment in innovation - on the parts of both the public and private sectors- but also of channelling this investment to the right places on the strength of better data and an inclusive, up-to-date definition of R&D.
We call for a smarter institutional setup for innovation policy within government, which includes a more anticipatory approach to regulation of new and disruptive technologies.
We emphasise the importance of skills to the UK economy as industries adjust to changes such as automation, stressing, in particular, the growth potential of combining science and arts skill-sets within industries and aligning the education system with this goal at all levels.
We outline the scale of the challenge and potential rewards of reworking the government procurement system to support innovation. We propose a way forward on balancing local growth with national priorities, with a focus of cultivating creative industries beyond London and the South East; and we call for a more nuanced understanding of how nationally-set innovation policy interacts with other policies to promote growth in one place.