Tom Adeyoola Named New Executive Chair of Innovate UK
People | Mar 25, 2025 | Business Cloud
Tom Adeyoola, a tech entrepreneur and founder of companies such as Metail and Extend Ventures, has been appointed as the new executive chair of Innovate UK, the government's innovation agency. Adeyoola's appointment follows a significant selection process and is subject to a pre-appointment scrutiny hearing. His leadership is expected to further the agency's mission of advancing the UK's innovation ecosystem, especially with initiatives like the £100 million Innovation Accelerator programme. Innovate UK has been pivotal in supporting innovators, which has led to the growth of companies like Pragmatic and Oxford Nanopore Technologies, the latter now being a unicorn company. Adeyoola will soon step down from his other responsibilities, maintaining his board roles at Channel 4 and his position as a school governor, to focus on his new role. Both government and industry leaders have expressed confidence in Adeyoola's capability to drive the UK's innovation sector forward.
Sectors
- Technology
- Innovation and Research
- Government and Public Administration
Geography
- United Kingdom – Innovate UK is a British government agency, and Tom Adeyoola's role focuses on the UK innovation ecosystem.
Industry
- Technology – Relevant due to Tom Adeyoola's experience in technology and Innovate UK's role in supporting tech innovations.
- Innovation and Research – Innovate UK is a government agency focused on fostering innovation and research across the UK.
- Government and Public Administration – Innovate UK is a government-backed agency, and Adeyoola's appointment involves public administration.
Financials
- £100 million – Amount allocated to Innovate UK's Innovation Accelerator programme aimed at creating jobs and fostering research.
- £1.49 billion – Valuation of Oxford Nanopore Technologies, a company supported by Innovate UK.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tom Adeyoola | Executive Chair | Person | Appointed as the new executive chair of Innovate UK, he brings a wealth of experience as a tech entrepreneur. |
| Innovate UK | Government Innovation Agency | Government | The UK's innovation agency focused on supporting innovative businesses and research. |
| Stella Peace | Interim Executive Chair / Executive Director of Healthy Living and Agriculture | Person | Served as interim executive chair and will return to her executive director role. |
| Science, Innovation and Technology Select Committee | Scrutiny Body | Government | Will conduct the pre-appointment scrutiny hearing for Tom Adeyoola's appointment. |
| UKRI | Parent Organization | Government | UK Research and Innovation oversees Innovate UK. |