Investment in intangibles or ‘knowledge assets’ (KAs), examples of which include intellectual property (IP), software, R&D, data, know-how, business processes, expertise and other intellectual resources, is fundamental to the successful delivery of government’s objectives and can bring significant social, economic and financial benefits.
The knowledge assets work was led out of a HM Treasury team, but the work has since transitioned over to the Department for Business, Energy and Industrial Strategy (BEIS). In April 2021, the team published the Mackintosh Report which set out an implementation strategy to gain greater value from public sector knowledge assets as well as draft guidance which covered the management of knowledge assets in government. The team also published a report at Budget 2018, which made several recommendations on improving the management of knowledge assets in government. The Mackintosh Report is a response to the recommendations made in the Budget 2018 report.
Key deliverables of the implementation strategy found in the Mackintosh Report are to set up a new unit (The Government Office for Technology Transfer) and fund, and the release of new guidance, to support public sector organisations in their management of knowledge assets.
This blog has been created to:
- provide a place to provide updates on the knowledge assets work within government
- share examples of knowledge assets and tech transfer maximising social, economic and financial value, which can be from our staff as well as staff from other public bodies
- enable a discussion around the blog content, allowing stakeholders and the public to comment, discuss and ask questions of this work
Another recommendation from our 2018 report was to set up a network to support the public sector in maximising their knowledge assets. We are currently setting this network up to provide a forum to share best practice, receive the latest policy updates, and join-up across central government, public sector research establishments and wider public sector. To receive more information on this as well as any other queries specifically related to the draft guidance on knowledge assets, please email KAGuidance@beis.gov.uk.