11 Jul 2019
A £720m public-private joint investment will support 11 projects working to commercialise new innovations to solve the Industrial Strategy’s Grand Challenges.
The UK government has committed £220m – combined with £500m from industry – to solving the challenges of tomorrow by backing projects including a new centre to research cancer treatments and an initiative in advanced manufacturing of lighter metals for the transport industry.
The chosen projects relate to the Grand Challenges of the government’s modern Industrial Strategy – from AI & Data and an Ageing Society to Clean Growth and the Future of Mobility.
‘Government investment in research and our world-leading universities are helping attract even bigger investments from the private sector,’ said Science Minister, Chris Skidmore. ‘These ground-breaking research projects worth nearly £720m are a fantastic example of this, as we work towards our target of 2.4% of GDP to spent on R&D by 2027.
‘This is our modern Industrial Strategy in action: extending our reputation for excellence into the future as we invest record levels into R&D and strive to become the most innovative country in the world.’
The funding is part of the UK Research Partnership Investment Fund managed by UKRI.