BY MARIA BURKE
Industry collaboration is crucial for curiosity-driven research, the UK Engineering and Physical Sciences Research Council (EPSRC) says in a recent report. The UK Government confirmed in November 2025 that curiosity-driven research will receive £14bn for the period 2026-2030 through UK Research and Innovation (UKRI), 36% of UKRI’s total budget.
The report shows that just under half of EPSRC’s research grants (46%) now include non-academic partners; and over 1,033 spin-out companies in the UK exist as a direct result of EPSRC investments (2025-26 Economic impacts from EPSRC’s investments in curiosity-driven research). These companies employ over 31,000 people with a combined annual turnover of over £8bn.
To keep this up, the report says EPSRC must focus on robust evidence of what works. ‘The UK’s recent slow economic growth, buffeted by world forces and facing global headwinds, makes this task all the more urgent. The Government’s renewed focus on growth, alongside the ambition to harness emerging technologies, demands a strategic, evidence-led approach.’
‘Curiosity-driven research can lead to unexpected, transformative impacts, often emerging years after the initial discovery’, Charlotte Deane, EPSRC Executive Chair, writes in a foreword. But ‘innovation journeys’ vary widely. ‘In some cases, agile spin-outs offer the most effective route, in others long-term partnerships with established companies are key.’
The report focuses on several case studies to reveal how curiosity-driven research has produced an economic impact and explores the mechanisms that led there. Deane writes: ‘Tailored support throughout the lifecycle of innovation is essential to achieving long-term economic impact and retaining value within the UK economy.’
Quantum technology is one example. EPSRC invested in the fundamental physics of laser technology, photonics and the strange behaviour of particles when cooled to temperatures near absolute zero. It now funds five hubs in quantum computing involving over 70 companies.
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