The Department for Business and Trade is seeking evidence on the ability of advanced manufacturing scale-ups to access finance. The responses will add to the government’s green paper and wider engagement informing the UK’s industrial strategy development.
- Purpose: The call for evidence seeks views on the accessibility of finance for advanced manufacturing scale-ups.
- Objective: It aims to gather information about the investment landscape in the advanced manufacturing sector to inform the Industrial Strategy and sector plans.
- Target Audience: The call is particularly relevant to industry, investors, and academics.
- Deadline: The call for evidence closes at 11:59pm on 26 November 2024.
The UK is recognized as a global hub for innovative businesses, particularly in the advanced manufacturing sector. This sector combines the excellence of the UK’s scientific and engineering communities with the vision of its entrepreneurs. Despite this, advanced manufacturing start-ups often face challenges in securing the necessary investment to transition from technological development to commercial success, especially at the scale-up stage.
The government acknowledges these barriers and is launching a call for evidence to explore the issue in depth. This initiative is part of a broader industrial strategy, “Invest 2035,” which aims to drive sustainable, inclusive, and resilient growth over the next decade. The strategy will focus on eight high-growth sectors, including advanced manufacturing, and will involve collaboration with businesses, regional governments, and other stakeholders to address barriers and support growth.
The call for evidence will contribute to the development of targeted sector plans, ensuring that the UK remains competitive and that future jobs are created within the country.
22 October 2024