Beef up TSB’s role to cover all innovation, argues RSC

The Technology Strategy Board should measure the success of every scheme related to innovation in the UK, the Royal Society of Chemistry has said.

The suggestion comes in a briefing document published by the society on 6 June to lobby the government in the run up to the spending review. The paper calls for the government to “broaden the TSB’s role to cover coordination across innovation”. It says that the TSB should compare the relative successes of all innovation projects using metrics.

The society argues this would allow optimisation of the various approaches to innovation and, therefore, optimise economic growth. Government innovation schemes include the UK Research Partnership Investment Fund, which announced new investments worth £290 million on 6 June.