The new head of Britain’s £1.1 billion-a-year innovation agency should transform it from a grant distribution body to one that makes equity investments in strategically important tech firms, according to Cambridge University’s entrepreneur-in-residence Ewan Kirk.
Stella Peace took over the job as interim executive chair of Innovate UK on Tuesday from Indro Muckerjee, who held the £195,000-a year-post for three and a half years.
Peace steps up at a time where the Treasury is scrutinising how effective public money is being spent at all its agencies, ahead of the budget on October 30 and after stinging criticism of Innovate UK from many of the 1,400 women business owners that had applied for its £4 million Women in Innovation awards when it awarded only 25 grants
