Land of hope and glory | Breakthrough Funding

Tuesday, December 1, 2015

Land of hope and glory

It’s a great time for music in the UK as Ed Sheeran and One Direction emulate the success in America experienced by The Beatles and The Rolling Stones.

But there are countless other Brit exports being used in almost every country on the planet.

There’s something about the British mindset that lends itself to finding ways around things, pushing boundaries and find new and innovative ways to improve our quality of life. Maybe we’re just born to be contrary and a little rebellious and now the Global Innovation Index makes it official.

They recently published a report naming the United Kingdom as the second most innovative country in the world, a rise of nine places since 2011.

Here at Breakthrough Funding we love working one-to-one with some of these innovators and helping them to get money back for their hard work through the government’s R&D tax relief scheme – check out our Innovation Stories to see the diversity of innovative thinking.

As a nation we now only trail behind Switzerland. So what do we need to do to become the most innovative country on the planet and beat the Swiss?

The Global Innovation Index explains how we good we are at so many things, but highlights some worrying issues that could affect our future ranking: “Graduates in science and engineering, the pupil-teacher ratio for secondary education, gross capital formation and the growth rate of GDP per person engaged,” are all key failings in their eyes.

But the UK Government is preparing to tackle those issues and published a ‘Productivity Plan’ back in the summer to outline just how it intends to make Britain even more of a world force.

High quality science and innovation is spreading fast and tech hubs and science parks are growing at an impressive rate. Despite having less than 1% of the world’s population, the UK provides 16% of top quality published research findings, and this in turn attracts considerable foreign investment.

The R&D scheme helps companies by giving them cash for development work and we’re happy to make that a reality for all sorts of companies around the country. By continuing to improve and increase our innovation levels the future is exciting – maybe it won’t be long before we’re number one.

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