Securing Public Sector Contracts – Its Not Only About Tenders.
The UK Government has signalled through its industrial strategy policy that the growing and funding of innovation is a key part of its plans.
The Industrial Strategy
The UK Government’s Industrial Strategy Green Paper signals the most significant commitment to policies to strengthen the UK’s industrial base and develop its regional economies for at least 40 years creating a key component of growth and productivity in the post BREXIT world. A key objective of the strategy is to make the UK one of the most competitive places to start or grow a business, by creating the right conditions for new and growing businesses to thrive.
The Small Business Research Initiative
The Small Business Research Initiative (SBRI) plays a unique role by providing new ventures and UK SMEs with contracts to develop innovative products that address unmet public sector needs, offering a ‘win-win’ opportunity for both the public sector and UK businesses alike. For the public sector, it offers a way to gain access to new technologies, products and solutions to improve its cost effectiveness and address policy challenges, whilst supporting a longer term, and more strategic, approach to procurement more generally.
For UK businesses, SBRI provides product development contracts from lead customers that are focused on real market needs. It can provide 100% funding in amounts sufficient to have a transformational impact on a company’s prospects at a point when other sources of funding may be unavailable or insufficient. An effective SBRI programme would boost the UK’s innovative capability, support the development and commercialisation of more new technology-based products and services, and give more innovators their “first break” and a route to market.
Yet, despite this widely accepted logic and the progress that has been demonstrated so far, as always when it comes to innovation the UK public sector is still not taking full advantage of SBRI’s potential. Its use, and method of implementation, varies widely across government, with many departments failing to get engaged in a meaningful way.
At David Cox Consulting we have the experience in utilising policy change to help you create innovative changes to government procurement functions and helping to drive UK competitiveness through the effective utilisation of public sector funding. Follow this link for our previous Case Study in this important area.
Access the Independent Review into SBRI Funding
The attached independent review looks at how SBRI funding can be improved and potential access to Governement funding for UK SME’s. You can access the report here Leaveraging Public Procurement to Grow the UK Innovation Economy