A yearly analysis on innovation from the BIS has been recently published. It highlights rising R&D investment and how UK business R&D spend remains low in comparison to other advanced countries.
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The Department of Business Innovation and Skill's objective in issuing a yearly analysis on innovation is to identify trends in UK performance and pinpoint strengths and weaknesses. It highlights rising R&D investment, more A levels and first degrees being taken in STEM subjects, and more innovative public procurement through the reformed Small Business Research Initiative (although much of the data precedes the onset of the global recession). It also highlights that UK business R&D spend remains low in relation to the performance of other advanced counties and it reports the decline in venture capital and private equity investment during 2008.