Technology entrepreneur Tom Adeyoola has been selected as the government’s preferred candidate to head Innovate UK, the country’s leading innovation agency. The Department for Science, Innovation and Technology confirmed the nomination of the 47-year-old to replace Indro Mukerjee in the £195,000-a-year role. The appointment comes at a crucial time as Innovate UK faces increasing scrutiny over its spending and strategic direction amid a wider government review of public finances.
Innovate UK plays a vital role in the UK’s research and development landscape, working with 450,000 organisations annually and facilitating significant private-sector investment. However, financial pressures have led to the suspension of its £25 million-a-year Smart Grants scheme while its effectiveness is reassessed.
Adeyoola, the founder of digital fashion technology company Metail, launched the virtual fitting room startup in 2008 and developed it into a major industry player before selling it to TAL Apparel in 2019. Since then, he has taken on advisory and non-executive roles, including a position on the board of Channel 4, where he provides guidance on technology and innovation.
Science Minister Lord Vallance expressed confidence in Adeyoola’s leadership, stating: “With his expertise in technology, entrepreneurship, and digital transformation, Tom Adeyoola is well-positioned to ensure Innovate UK delivers real impact—supporting pioneering businesses, scaling up breakthrough innovations, and positioning the UK as a leader in future industries.”
Adeyoola’s appointment coincides with ongoing debate over Innovate UK’s funding model. Some critics, including Cambridge entrepreneur and BAE Systems board member Ewan Kirk, have suggested that the agency should transition from a grant-based system to a more investment-driven approach. Kirk previously criticized the agency, stating: “Innovate UK is a good idea, but badly executed. The incoming chair should transform it into a more investment-led organisation.”
Last year, Innovate UK’s Business Group programme supported 10,600 businesses, helping them secure £674 million in private funding and sustain more than 6,700 jobs. A significant portion of the agency’s budget is allocated to its nine sector-specific “catapult” centres, which focus on research and development across areas such as gene therapy, medicine discovery, advanced manufacturing, and energy systems.
Until Adeyoola’s appointment is confirmed, acting chair Stella Peace will continue overseeing strategic initiatives in health and agriculture. Adeyoola’s leadership will be closely observed as he navigates the agency through fiscal challenges and potential structural reforms while ensuring that Innovate UK continues to drive innovation and economic growth.
