Tech entrepreneur and business leader Tom Adeyoola will head up
Innovate UK to unlock the potential of British business and
turbocharge growth through our Plan for Change.
Once confirmed by parliament, Tom will act as Chair of Innovate
UK, part of the largest national public research funder, helping
businesses turn cutting-edge ideas into real-world products.
The agency funds ambitious companies, drives transformative
technologies, and oversees the UK's Catapult Network, which
connects businesses with world-class R&D expertise. Through its
£100 million Innovation Accelerator programme, it is already
creating high-skilled jobs and new opportunities in Glasgow,
Manchester, and the West Midlands, helping these regions become
global hubs for research, from advanced manufacturing to life
sciences.
Over 450,000 innovators across the country were supported by the
agency in 2023/2024, including support for successful scale-ups
such as Pragmatic, a world leader in semiconductor innovation
that has grown from a dozen to 330 employees in a decade –
powering everyday tech from smartphones to medical devices, and
Pragmatic's ultra-thin, low-cost microchips open new
possibilities for smart packaging and wearable health tech.
Innovate UK was an early backer of Oxford Nanopore Technologies,
whose handheld DNA sequencing technology is now used worldwide –
from diagnosing diseases faster to tracking viruses like
COVID-19. Their success has not only transformed healthcare but
also driven economic growth, with the company now valued at £1.49
billion and generating annual revenues of around £183 million.
People could see faster medical deliveries, air taxis cutting
journey times, and greener transport options through Innovate
UK's flagship Future Flight Challenge, which works with
businesses and regulators to develop drone technology and
zero-emission aircraft.
Tom Adeyoola brings a wealth of experience spanning technology,
investment, entrepreneurship, and digital transformation.
As co-founder of Extend Ventures, he has worked with Innovate UK
to improve diversity in grant funding and support
underrepresented entrepreneurs. He also serves on the steering
board of The Startup Coalition, advocating for high-growth tech
businesses across the UK.
Science Minister said:
Innovation is central to this government's Plan for Change,
helping to unlock new opportunities, boost productivity, and
create high-value jobs across the UK.
With his experience in technology, entrepreneurship, and digital
transformation Tom Adeyoola is the right person to ensure
Innovate UK delivers real impact – backing pioneering businesses,
scaling up breakthrough innovations and ensuring the UK leads in
the industries of the future.
I thank Indro Mukerjee, and Stella Peace for all of their
contributions up to this point and I look forward to working with
Tom as we continue to make the UK the best place in the world to
start and grow an innovative business.
Whilst on the Board at Channel 4, he focused on digital
transformation and championed innovation funding in the creative
industries. He has also been a driving force in exploring the
impact of generative AI on the economy, from
education to public services. His blend of business, technology,
and policy expertise makes him well-placed to steer Innovate UK's
investments – helping pioneering companies scale up, from greener
aviation to sustainable food production.
UKRI Chief
Executive Professor Dame Ottoline Leyser said:
Tom Adeyoola's appointment is excellent news for Innovate UK and
the whole of UKRI. His experience and
insight as a technology entrepreneur and business leader will
bring enormous benefits and expertise to the organisation at this
critical time.
I'd like to take this opportunity to thank Dr Stella Peace for
her superb leadership as interim Executive Chair. Stella will
continue to play a major role for UKRI as Innovate UK's
Executive Director of Healthy Living and Agriculture.
Under Tom Adeyoola's leadership, Innovate UK will continue
backing businesses and driving forward the government's Plan for
Change – supporting pioneering businesses, create high-value
jobs, and turn cutting-edge ideas into solutions that improve
lives across the UK.
Incoming Executive Chair of Innovate UK, Tom Adeyoola said:
Innovate UK plays a vital role in catalysing the businesses that
will shape the UK's future economy – whether through cutting-edge
technologies, the creative industries, or AI.
I look forward to working with partners across the ecosystem,
industry and government to ensure our investments have a
multiplier impact, driving innovation that fuels economic growth
and strengthens the UK's position as a global leader in science
and technology.
Tom Adeyoola's appointment follows a competitive recruitment
process and is subject to a pre-appointment scrutiny hearing by
the Science, Innovation and Technology Select Committee, which is
expected to take place on 8 April.
Notes to editors
Tom will be stepping down from all existing responsibilities
besides his roles on the Board of Channel 4 and as a school
governor.
