Innovate UK launches Next Wave, a growth program designed to help UK createch micro businesses and SMEs scale by developing and commercialising innovative products at the creative-technology frontier, with the aim of attracting investment and expanding globally.

Creativity is a central priority for Innovate UK's strategy to turn breakthrough ideas into globally scalable products and services, aligning with the government’s goal to double business investment in the creative industries by 2035.

Next Wave sits within Innovate UK's broader effort to help high-potential businesses convert breakthrough ideas into scalable global products and services, supporting the 2035 investment doubling target for the creative sector.

Francesa Hegyi, Co-Chair of the Creative Trade Forum and CEO of Edinburgh International Festival, says the government’s Modern Industrial Strategy provides a growth blueprint and that the Creative Trade Forum will unlock export and investment opportunities for UK creatives.

Hegyi notes the Modern Industrial Strategy, launched in 2025, as a blueprint for growth and emphasizes tangible actions the Creative Trade Forum enables for exports and investment.

The Creative Trade Forum, a government-industry partnership, aims to boost UK creative exports, attract investment, and strengthen international competitiveness, with participants including YouTube, BFI, Innovate UK, WPP, British Council, UKRI, and BBC Studios.

Forum participants will provide industry insights, identify growth barriers, and help forge stronger international partnerships across the creative ecosystem.

The Creative Trade Forum reports to the Creative Industries Council and acts to boost exports, attract investment, and enhance global competitiveness for UK creatives.

Creative industries are highlighted as one of six priority sectors in Innovate UK's prospectus, underscoring their economic contribution and growth potential.

Future Next Wave opportunities, launching in 2027, will focus on four frontier areas—film and TV, video games, music/performing/visual arts, and advertising/marketing—with aims to create at least 10 future centaurs and two unicorns by 2035 and unlock more than £300 million in private investment.

The first £10 million Next Wave pilot, Breakthrough Wave 1, attracted 700 applications from across the UK, signaling strong createch ambition and activity.

Tom Fiddian of Innovate UK emphasizes the program’s goal of turning global demand into UK growth while preserving IP, ownership, and long-term value for UK creators, and connecting SMEs with funding, markets, and expertise.