Innovation is the application of knowledge or ideas for the development of products, services or processes – whether in business, the public services, or non-profit sectors. The UK innovation system is multi-faceted, with a wide variety of actors, both publicly and privately funded. RCUK and the Research Councils play a vital role in it through investment in knowledge creation and its translation to application.
This booklet Innovation and the Research Councils highlights how UK research is vital to boosting innovation for economic and business growth.
A copy of the report is available to download here .