Modern slavery statement

Innovation Catalyst Ltd seeks to uphold the highest standards of honesty and integrity in its business dealings and operates a zero-tolerance approach to modern slavery and human trafficking. We strive to ensure that there is transparency in our approach to tackling modern slavery, consistent with the disclosure obligations under the Modern Slavery Act 2015 (Act).  Our policies and procedures demonstrate this commitment to act ethically and with integrity in all our interactions with stakeholders.

Innovation Catalyst Ltd is a private limited company registered in England and Wales. We accelerate innovation by working with organisations to deliver impact.

To carry out our activities, we use suppliers to support the operations of our organisation. We utilise a Supplier Code of Conduct to set out how we expect those we engage to behave. The main areas in which we engage suppliers are:

• Finance; and
• Professional services.

In addition, we work closely with a range of organisations, including academic institutions and other research organisations, where there may not be a purchaser/supplier relationship but where we also make clear our expectations of compliance with modern slavery legislation.

We apply our processes as follows:

• Agreements, including grant agreements – we require all counterparties to comply with the law (including in relation to modern slavery and human trafficking).
• Assessing and managing risk – we seek to embed the identification and assessment of risk, and mitigation where required, into our strategic and operational decision making activity.

We have a number of policies that contribute to ensuring modern slavery does not occur in our organisation or supply chains:

• Modern Slavery Policy – requires employees to prevent, detect and report modern slavery in any part of our business or supply chains.
• Safeguarding Policy – ensures that vulnerable groups impacted by projects and programmes delivered and/or supported by LifeArc are protected as far as possible from harm, including exploitation, neglect and abuse of all kinds.
• Equity, Diversity and Inclusion Policy – embodies our commitment to establishing a diverse workforce and create equal opportunity for all.
• Health and Safety Policy – ensures as far as reasonably practicable, the health, safety and welfare of employees and others that may be affected by our activities. LifeArc also complies with the Working Time Regulations (1998).

Risk management is applied across Innovation Catalyst Ltd's functions and ensure due diligence is applied. Innovation Catalyst Ltd believes that because of the steps it has taken, it has a low risk of modern slavery issues within the business and in its direct supply chain, and there have been no reported instances of suspected modern slavery or people trafficking during the year. However, we are not complacent and will continue to be alert for potential issues.

We are committed to minimising the risk of modern slavery and human trafficking occurring in our organisation and supply chains and will: (i) continue to review our approach to modern slavery and human trafficking and raise awareness across the organisation; (ii) continue to refine our third-party risk management and due diligence processes; and (iii) revise and refine our procurement procedures.

This statement is made pursuant to section 54 of the Modern Slavery Act 2015 and constitutes Innovation Catalyst Ltd's slavery and human trafficking statement.