Innovate UK: Powering the Nation’s Future Through Business-Led Innovation

Innovation is the lifeblood of progress, and in the United Kingdom, that pulse is driven by Innovate UK—the government’s national innovation agency. Operating under the umbrella of UK Research and Innovation (UKRI), Innovate UK exists to transform brilliant ideas into commercially successful products and services that enhance productivity, create jobs, and strengthen the UK’s global competitiveness.

Building an Innovation Nation

Founded as the Technology Strategy Board in 2007 and rebranded as Innovate UK in 2014, the agency has since evolved into a catalyst for business-led research and development (R&D). Its mission is clear: to support companies and entrepreneurs in developing technologies and business models that address major economic, social, and environmental challenges.

From artificial intelligence to clean energy, life sciences to advanced manufacturing, Innovate UK funds thousands of projects every year through grants, innovation loans, and collaborative partnerships. By connecting businesses with academia, investors, and international networks, it helps turn early-stage concepts into market-ready solutions that drive sustainable growth.

A Legacy of Leadership and Vision

The success of Innovate UK owes much to the visionary individuals who have led it through periods of transformation. Dr Ruth McKernan, a neuroscientist and former pharmaceutical executive, steered the organization between 2015 and 2018, embedding a science-driven approach and launching the Industrial Strategy Challenge Fund—an initiative that aligned innovation investment with national priorities.

Following her tenure, Dr Ian Campbell served as Interim Executive Chair, guiding the agency through its integration into the broader UKRI framework. His leadership emphasized accountability and efficiency during a critical stage of organizational restructuring.

In 2021, Dr Indro Mukerjee, an experienced technology industry leader, became Executive Chair, introducing a stronger commercial focus and advocating for scaling innovation from the laboratory to the marketplace. His efforts underscored the need for business-centric funding models that link R&D directly to economic impact.

After his departure in 2024, Dr Stella Peace stepped in as Interim Executive Chair, maintaining continuity and ensuring that Innovate UK’s strategic momentum continued while the search for a permanent successor was underway.

The appointment of Tom Adeyoola as Executive Chair in 2025 marked a new chapter. A successful entrepreneur and founder of the fashion-technology company Metail, Adeyoola brings fresh energy and a startup mindset aimed at accelerating the UK’s innovation pipeline, strengthening global collaborations, and supporting regional growth through technology-driven enterprises.

Shaping the Future of UK Innovation

Today, Innovate UK is more than a funding agency—it is the backbone of Britain’s innovation ecosystem. It operates through the Innovate UK Business Connect network (formerly the Knowledge Transfer Network), linking thousands of innovators and enterprises. It also plays a key role in the UK’s net-zero transition by supporting projects in clean tech, sustainable materials, and circular economy solutions.

With over £8 billion invested in innovation since its inception, the agency continues to demonstrate how public funding can deliver private-sector growth and long-term national value.

Conclusion

From its origins as a strategic technology board to its current stature as the UK’s innovation powerhouse, Innovate UK stands as a symbol of how vision, leadership, and collaboration can transform an economy. Under leaders such as Tom Adeyoola, Dr Stella Peace, Dr Indro Mukerjee, Dr Ian Campbell, and Dr Ruth McKernan, the organization has evolved continuously—each contributing unique expertise that shaped its identity and mission.

As the UK faces a future defined by rapid technological change and global competition, Innovate UK remains committed to turning challenges into opportunities, ensuring that British innovation not only thrives at home but leads on the world stage.