Mukerjee (pictured) takes up the role with immediate effect and will be responsible for leading the agency as it looks to drive economic growth.

Mukerjee is the first permanent chief executive of Innovate UK since 2018. He succeeds Ian Campbell, who stepped down in late 2020 after two years as interim executive chair at the organisation.

His background in technology and business includes serving as chief executive of IT company Watchstone and leading electronic technology business Plastic Logic.

Innovate UK is the government’s research and development arm and is part of UK Research & Innovation (UKRI), a non-departmental public body.

Mukerjee’s remit includes developing and implementing strategies for investments with the aim of promoting the UK as a global leader in research and development (R&D).

Business secretary Kwasi Kwarteng said: “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.”

The appointment follows the government’s announcement that it will launch an £800m scientific research agency to fund ‘high-risk’ technology projects. The new body will operate independently but work alongside UKRI.