The Ideas metrics will track public and private expenditure on research and development, which in turn should lead to improvements in knowledge, innovation and technological progress.

Innovation is about ideas, new ways of doing things, new products and services, new technologies and new business models.

The UK is a global leader in science and research but underfund Research and Development (R&D) relative to peers and needs to improve how we turn exciting ideas into strong commercial products and services.

The Industrial Strategy aims to increase public investment in R&D, by ensuring the UK is the best place for innovators, and by using the Grand Challenges to drive partnerships between the best scientific and business talent across the UK.