Download or read book HC 249 - Business-University Collaboration written by Great Britain. Parliament. House of Commons. Business, Innovation and Skills Committee and published by The Stationery Office. This book was released on 2014 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Government must commit to a 3 per cent target of GDP of research and development (R&D) spending by 2020 to ensure the UK doesn't lag behind international competitors. The BIS Committee finds that more than 30 years of under-investment in R&D has left the UK trailing countries such as the USA, Germany and France in science and innovation spending, threatening the opportunities for economic growth offered by the research excellence of the UK's world class university system. The Committee found the Catapult network has played a valuable role in harnessing the commercial benefits of science and innovation research. The Committee calls on the Government to back the recommendations of the recent Hauser Catapult review and expand the Catapult Network from the seven current centres to 20 by 2020 and 30 by 2030 and increase funding to Innovate UK. The Government needs to do more to bring businesses and universities together to realise the benefits of the cutting-edge research taking place across the country. The Committee recommends that the Government establish a respected and impartial way to measure and evaluate the success of its initiatives to increase R&D activity, such as by reintroduction of the R&D scoreboard. These measures, alongside an ambitious long-term vision for the innovation system, should be built into the forthcoming Science and Innovation strategy.