Small Business Research Initiative

New Public Services Procurement Model: Key to SME Growth

NESTA (National Endowment for Science, Technology and the Arts) is calling for the UK’s Small Business Research Initiative (SBRI) to be scaled up to offer wider access to growth for SMEs as a new report published today concludes that it drives technology innovation in the UK. (Buying Power? Is the Small Business Research Initiative for procuring R&D driving innovation in the UK?) Public procurement of products and services amounts to £220 billion a year in the UK. The SBRI programme encourages public sector procurement of pre-commercial technologies often from small to medium sized businesses by running targeted competitions to fulfil public sector contracts. It is based on the successful American model in which SBRI-funded companies generated five times more growth than ot... »