Establishing and maintaining a network of centres with world-leading technical capabilities will require a sustained investment – from both public and private sector. Centres also need to create a critical mass of activity surrounding them which will anchor the activities of globally mobile companies in the UK.
The centres will gain their funds from a mix of competitively earned commercial funding and core Innovate UK investment. The funding model will vary through the life of the technology and innovation centre and can be expressed in simplified terms as following the one-third, one-third, one-third model. Under this model centres are required, when fully established, to generate their funding broadly equally from three sources:
The network of Catapult centres is being established by Innovate UK. Each Catapult centre will be established as a company ltd by guarantee (CLG), a separate legal entity from Innovate UK. They will be controlled by their own Boards with an Executive Management team responsible for the day to day management of each Catapult.