UK government grants additional funding to support the future of British innovation
The British government is injecting £780m extra funding into high-tech hubs across the country - the largest R&D investment in 40 years.
Offshore renewable energy, manufacturing and satellites will benefit the most, followed by other technologies including 3D printing and treatment for degenerative sight-threatening conditions. This new funding builds on £180 million announced by the Prime Minister for centres in the North East last month, taking the total of additional funding to almost £1 billion.
The investment will benefit Catapult centres, a network of research and development hubs that have been fuelling innovation across the UK and breathing new life into the country’s industrial and technological landscape.
The new financial backing is part of the country’s Industrial Strategy to tackle a first round of Grand Challenges – a number of society-changing opportunities that are predicted to drive the country’s development in the following sectors:
- AI and data - putting the UK at the forefront of the AI and data revolution,
- Ageing society - harnessing the power of innovation to meet the needs of an ageing society,
- Clean growth - maximising the advantages for UK industry from the global shift to clean growth,
- Future of mobility - becoming a world leader in shaping the future of mobility.