Rishi Sunak has changed the Department of Business, Energy and Industrial Strategy to deliver on the government’s promises and build a better future.
So, what’s he changed and what does this mean? We break down the details below.
A ministerial department, the Department of Business, Energy and Industrial Strategy (BEIS), was focused on building a stronger, greener future by fighting coronavirus, tackling climate change, unleashing innovation, and making the UK a great place to work and do business.
To continue to deliver on the government’s promises and to build a better future, Rishi Sunak has divided BEIS into the following four departments:
Department for Energy Security and Net Zero
Department for Science, Innovation and Technology
Department for Business and Trade
Department for Culture, Media and Sport
Before the changes, BEIS funded UK Research and Innovation, which in turn funded Innovate UK.
After the changes, it looks a bit like this:
Now BEIS has been divided into four new departments, the Department for Science, Innovation & Technology will fund UK Research & Innovation and Innovate UK.
Department for Energy Security and Net Zero “will focus on giving the UK cheaper, cleaner, more secure sources of energy – cutting bills, cutting emissions, and cutting our dependence on international energy supplies” (1).
Department for Science, Innovation and Technology “will make sure the UK is the country where the next great scientific discoveries are made – and where the brightest minds and the most ambitious entrepreneurs will turn those ideas into companies, products, and services that can change the world” (1).
Department for Business and Trade “will be a single, coherent voice for business inside government, focused on growing the economy with better regulation, new trade deals abroad, and a renewed culture of enterprise at home” (1).
Department for Culture, Media and Sport will “support and celebrate the immeasurable richness those sectors bring to our national life” (1), supporting cultural and creative industries to thrive.
The Department for Science, Innovation and Technology is perhaps the most interesting to the R&D grant funding space, as this will fund key UK funders UK Research and Innovation (UKRI) and Innovate UK (IUK).
This department’s priority outcomes include the following:
The main change for the R&D grant funding space is that URKI and IUK will now be funded by the Department for Science, Innovation and Technology. This shouldn’t mean many changes for you, just that for SMEs seeking R&D grant funding, the finding will likely come from Department for Science, Innovation and Technology rather than the Department of Business, Energy and Industrial Strategy.
Got an R&D project you want to discuss? Want to know how R&D grants could accelerate your innovation? Get in touch with our team today.