New strategy to turn breakthrough ideas into industry giants
Innovate UK has set out a new plan to help the next generation of technology businesses grow across the UK. The aim is to back the most promising deep tech companies, support the government’s Modern Industrial Strategy, and help create jobs and growth.
Innovate UK will focus on six priority sectors
- advanced manufacturing
- clean energy industries
- creative industries
- defence
- life sciences
- digital and technologies
The digital and technologies sector includes areas such as artificial intelligence, advanced connectivity, cyber security, engineering biology, semiconductors and quantum.
To deliver this support, Innovate UK will set up specialist sector teams and a new account management service called Velocity. This will give high-potential businesses tailored help throughout their journey, from first contact through to raising investment.
Support will be tailored to each business rather than using a one-size-fits-all approach. Grants and loans will be matched to the stage and level of risk, with the potential for increased backing as a business proves its performance.
From April 2026, Innovate UK will begin their transition to a new operating model, supporting a seamless, integrated offer and investment pipeline.
Read Innovate UK’s prospectus on turning breakthrough ideas into the UK’s next industry giants for more details.
First published 23 March 2026