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A Mission-Oriented UK Industrial Strategy report sets out innovative approach to Grand Challenges

22 May 2019

The 果冻影院 Commission on Mission-Oriented Innovation and Industrial Strategy (MOIIS) chaired by Professor Mariana Mazzucato and Lord David Willetts have released a report which sets out an approach to UK investment and innovation targeted at solving systemic 21st century challenges.

MOIIS report launch news story

The report titled 鈥A Mission-Oriented UK Industrial Strategy鈥 looks at different missions which target the four Grand Challenges outlined by the Government 鈥 an Ageing Society, the Future of Mobility, Clean Growth and the AI & Data Economy. The report also outlines how to ensure the design of these missions are able to crowd-in investment and innovation across different actors and sectors in the economy. The 果冻影院 Commission on Mission-Oriented Innovation and Industrial Strategy (MOIIS) hope this can lead to a concrete roadmap to attain sustainable and inclusive, investment-led growth.

Innovation policy, and industrial strategy specifically, are an opportunity to direct innovation towards solving big societal problems. For the past year, the MOIIS Commission聽has been working closely with the Government to develop key recommendations and implementation steps which can inspire innovation, solve societal crises and stimulate economic growth. They have also been looking at cross-cutting issues鈥攍ike how to use procurement policy to inspire bottom-up experimentation and exploration towards achieving the missions, and how to engage civil society.

Commission members attend a workshop on clean growth, July 2018

Key to the recommendations is the idea that government must now take the opportunity to go further than its current programme and be bolder in its ambition and framing, becoming the 鈥渋nvestor of first resort rather than just 鈥 a lender of last resort鈥. The report explains how many radical advances in technology, such as the Internet and GPS, were created as 鈥榮pill-overs鈥 along the way to solving bigger, specific challenges 鈥 and in turn how those inventions led the way for many of the society-shifting technologies we use today, such as Uber.

Professor Mariana Mazzucato said:

鈥淭his report creates an ambitious but achievable path for the UK to follow if we want to be at the forefront of tackling the great challenges facing our world, from climate change to the health of ageing societies.
鈥淎t a time when we stand at an economic crossroads, the industrial strategy can determine our approach to investment and innovation, future-proofing society and providing the best possible environment for investment and technological advances to flourish.
鈥淕overnment needs to take an assertive role in creating the future, not just providing fixes - a narrow focus on the areas that private finance is prepared to sponsor today is no longer a sufficient response.鈥

Greg Clark MP, Secretary of State for Business, Energy and Industrial Strategy, said:

鈥淭oday鈥檚 report rightly supports our Industrial Strategy鈥檚 aim to invest and build the economy, sectors and jobs of the future in the UK.聽
鈥淲hether it鈥檚 increasing spending on research and development to a record ever level, or agreeing Sector Deals and Local Industrial Strategies, our Industrial Strategy will help ensure we build on the UK鈥檚 expertise and ensure we become the global leaders in new and emerging technologies, while securing highly-skilled jobs and investment in all parts of the country.鈥

To read the full report and press release, visit the Mission-Oriented UK Industrial Strategy report page.