Select committee recognises role of Technology Strategy Board in the commercialisation of research

The main agency for supporting innovative businesses is the Technology Strategy Board, the UK's innovation agency. Commenting on the report, Iain Gray, the Chief Executive of the Technology Strategy Board, said: "We are pleased the Select Committee recognises the vital work the TSB is doing in promoting the commercialisation of research in the UK. The Committee acknowledges the need for a single innovation agency concentrating effort and ensuring coherence and consistency within the system." The Committee's report records the overwhelming appreciation of the TSB's work and funding programmes by those who gave evidence to the Committee. The Committee added that it supported the current Government's approach to its innovation policy. The report entitled Bridging the valley of death: improving the commercialisation of research was published last month and can be found at www.parliament.uk/science. The Technology Strategy Board is the UK's innovation agency and has a goal to accelerate economic growth by stimulating and supporting business-led innovation. It is sponsored by the Department for Business, Innovation and Skills (BIS).