£270m welcomed by the UK’s Research and Innovation Leaders.

The spring budget has announced an initial investment of £270m for the development of disruptive technologies that have the potential to transform the UK economy. The funding will be supported by the Industrial Strategy Challenge Fund (ISCF) and welcomed by the UK’s Research and Innovation leaders.

Dr Ruth McKernan, Chief Executive of Innovate UK said: “The Challenge fund is like nothing we have seen before in the UK, and it has enormous potential to deliver. These challenges are just the start and Innovate UK and the Research Councils are already working together, building on the evidence we’ve gathered from businesses across the country to look at the next tranche of support we can provide to get the UK’s researchers and businesses working together and firing on all cylinders.”

The investment will also support additional PhD places and new fellowships within areas aligned to the Industrial Strategy Budget.  

For more information about how the spring budget will aid the UK’s future follow the link.