Innovate UK is a Council of UKRI1. UKRI must arrange for Innovate UK to exercise such functions of UKRI2 as UKRI may determine for the purpose of increasing economic growth in the United Kingdom3.
Such arrangements must require Innovate UK, when exercising any function to which the arrangements relate, to have regard to4:
(1) the need to support (directly or indirectly) persons engaged in business activities in the United Kingdom;
(2) the need to promote innovation by persons carrying on business in the United Kingdom; and
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