The UK government has published its long-awaited industrial strategy which outlines how research and development spending will be expected to support the country¡¯s economy to grow.

A 10-year plan, which Labour has branded its ,?was published on 23 June, detailing how it intends to ¡°grow the industries of the future¡±.

It specifically identified eight focus sectors (IS-8) with the ¡°highest potential¡±, including the creative industries, advanced manufacturing, clean energy and digital and technology.?

¡°Our world-leading universities, skilled workforce, legal and regulatory frameworks, tech?ecosystem, and content creators have enabled the emergence of thriving, internationally competitive UK sectors,¡± the 160-page plan reads.

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¡°But business-as-usual will not be enough to succeed,¡± it continues, saying the UK is often too ¡°over-regulated¡± and ¡°over-burdened¡± to take advantage of new opportunities.?

In the strategy, the government says it will reward innovation and investment, including?encouraging university spin-outs, as well as attracting ¡°world-class¡± researchers through a?new global talent fund.

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Plans to?provide 10-year budgets for research and development?in specific areas have also been confirmed with the strategy highlighting how this can ¡°make it easier for researchers and businesses to form partnerships, develop talent and collaborate internationally¡±.

It?confirms the first?recipients of these longer-term budgets will be?the Aerospace?Technology Institute, the DRIVE35?programme for automotive, the?National Quantum Computing?Centre and?the?Laboratory of?Molecular Biology.

The government also says it will continue to support universities through the Higher Education Innovation?Fund, a ?280 million fund focused on commercialisation.

UK Research and Innovation will be directed to pivot its programmes and budgets towards the priorities set out in the strategy, including the IS-8.

¡°It will also be given new objectives to set out its role in delivering government priorities, including enabling innovation, commercialisation, and scale-up across the UK,¡± the report reads.?

¡°Innovate UK, as the UK¡¯s innovation agency, will play a central role in accelerating the commercialisation of new technology,¡± it continues.?

The government intends to further incentivise collaboration between industry and academia, including by launching a new R&D Missions Accelerator Programme, which will be granted ?500 million to spend.

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Labour has also set out its ambition to align higher education provision to economic priorities, noting that the Strategic Priorities Grant, which was?slashed by ?100 million in May, will be ¡°more effectively targeted¡± to support future skills needs.

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¡°We will also set out reforms for the higher education system in England in the forthcoming Post 16 Education and Skills White Paper, recognising the crucial role of universities as engines for innovation and skills,¡± the report says. This paper is expected before the summer recess.?

And, as the government ramps up its defence budget, universities could be set to benefit, with the strategy pledging to ¡°invest in cutting edge university facilities to increase places for defence skills provision¡±.?

¡°UK universities will play a critical role in delivering our Industrial Strategy,¡± the report says, a statement that may placate those concerned that the Labour government has been overlooking the higher education sector?in favour of other forms of post-16 education.

Sarah Stevens, director of strategy at the Russell Group, said it was ¡°encouraging to see recognition¡± of universities in the strategy.

Anne Lane, chief executive of UCL Business, the commercialisation arm of the institution, welcomed the government¡¯s ¡°clear emphasis on commercialising university research¡±.

¡°As the strategy makes clear; to deliver innovation-driven growth we need a thriving ecosystem where enterprising university academics are supported at every stage to bring their ideas and inventions to market, with access to capital so spin-out businesses can grow to create jobs and positive impacts for everyone,¡± she said.?

Vanessa Wilson, chief executive of University Alliance, also welcomed the strategy but called for higher education representatives to sit on the Industrial Strategy Council.?

¡°The strategy¡¯s commitment to reducing regulatory burden for businesses is welcomed but is also urgently needed for universities too,¡± she continued.?

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¡°Regulatory duplication is a key problem for the vocationally oriented and professionally accredited provision the government wants to see more of, and in the absence of more funding, cutting the cost and burden of higher education regulation would go a very long way.¡±

helen.packer@timeshighereducation.com