Appointment of Indro Mukerjee as new CEO of Innovate UK

Innovate UK CEO Indro Mukerjee

Business Secretary Kwasi Kwarteng has today (5 May 2021) announced the appointment of Indro Mukerjee as the new CEO of Innovate UK, the UK’s innovation agency.

Indro Mukerjee is a highly experienced technology executive and business leader with a track record of leading innovation and technology commercialisation at businesses of all sizes across the world. He has led publicly listed and multinational corporations to new venture and private equity backed technology companies.

Mukerjee will take up the post immediately and will be tasked with transitioning Innovate UK from a grant funding body to an agency focused on driving economic growth. It will work with companies to de-risk, enable and support innovation, while unleashing private sector investment into research and development.

As part of this, he will develop and implement strategies for investments that promote the UK as a global leader in research and development (R&D) and technologies of the future. This will help cement the UK’s place as a global science superpower.

The appointment comes at a time when innovation is being recognised as a key driver of the UK’s post-pandemic growth strategy. Innovate UK is set to play a strategically important role in this and build closer connections with industry.

Innovation at the heart of our efforts

Business Secretary Kwasi Kwarteng said:

I want innovation to be at the heart of our efforts to build back better, and to achieve this we need strong leadership from experienced innovators, with business know-how, who can help unleash the UK’s vast scientific and technological potential.

Along with his passion for science and technology, Indro boasts impressive credentials having worked at the top tier of businesses of all sizes and across different industries. I look forward to working closely with him at the helm of Innovate UK, which will be a crucial vehicle in accelerating business-led innovation and technology, driving economic growth, creating high-value jobs and cementing the UK’s status as a science superpower.

I also want to take this opportunity to pay tribute to Indro’s predecessor Ian Campbell, who has left a fantastic legacy at the organisation to build upon in the years ahead.

Delivering the innovation strategy

Innovate UK CEO Indro Mukerjee said:

Throughout my career, I have had a strong personal passion for the journey from scientific discovery through to innovation and ultimately commercialisation of technology. I have seen that journey at first hand across many settings, industries, countries and types of business. I will use this experience as I lead Innovate UK and work with the Secretary of State to deliver the government’s innovation strategy.

Flourishing research and innovation system

Chief Executive of UK Research and Innovation (UKRI) Professor Dame Ottoline Leyser said:

Indro’s vast experience and expertise working in technology and industry will be a real asset for Innovate UK and UKRI as a whole. Innovation matters more than ever before, and I look forward to working closely with him to deliver our vision of a flourishing research and innovation system.

Funding

Since 2007, Innovate UK has invested around £2.5 billion to help businesses across the country to innovate, with match funding from the private sector taking the total value of projects above £4.3 billion.

The agency has also helped 8,500 organisations create around 70,000 jobs and added an estimated £18 billion of value to the UK economy.

Mukerjee will play an important role in ensuring the government’s fulfils its commitment to increase R&D spend across the economy to 2.4% gross domestic product by 2027.

The appointment was approved by the Secretary of State for the Department for Business, Energy and Industrial Strategy following a comprehensive and open recruitment process.

Biography

Indro Mukerjee is an experienced CEO with board-level leadership experience in publicly listed, corporate multinational, new venture and private equity backed fast-moving technology and industrial companies.

Previously CEO of Watchstone Group plc – Brought in by institutions to stabilise and reshape a high-profile company operating in insurance, telematics and healthcare software and services.

Plastic Logic plc – Restructured major venture capital-backed disruptive electronics company and created FlexEnable Ltd. spin out.

C-MAC MicroTechnology Ltd – Private equity backed leveraged buyout (LBO) from which he built and sold three successful high technology companies operating in aerospace/defence, automotive and communications markets.

Philips Semiconductors BV – Indro’s main corporate leadership experience was based in the Netherlands with Philips (now NXP) Semiconductors BV, where he held several global board positions. These included:

  • Executive Vice President – Global Marketing & Sales
  • Chief Marketing Officer
  • CEO of the Automotive and Contactless ID/Smart Card Businesses.

Most of his time was spent in Asia and the US.

Earlier career – His earlier career included being Commercial Director within the leadership team which took VideoLogic (now Imagination Technologies) through an IPO, as well as senior management positions within Hitachi’s European semiconductor division.

Indro has a strong personal interest in the development of skills for industry and getting the best talent pipeline developed. He cofounded the UK Electronics Skills Foundation, which has developed into an innovative and successful partnership between industry and academia encouraging bright, young students to develop careers in the UK electronic systems industry.

He also served on the SEMTA (now Enginuity) board for nine years, where he was also Chairman of the committee managing their investment fund.

Indro has a degree in Engineering Science from Oxford University, is a graduate of the Wharton Advanced Management Program and speaks several European languages.

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