The Government has awarded £400 million in Research and Development (R&D) funding to regional research and innovation projects in the UK.
The funding forms part of the Government’s long-term aim to invest 2.4 per cent of UK GDP in research and innovation, with R&D funding forming a significant part of the strategy.
Businesses and universities in Cardiff, Edinburgh, Belfast, Glasgow, Kent, Liverpool and Bristol will benefit from the funding for projects including smart-packaging to reduce food waste, health products to fight infection and zero-emissions technology for marine vessels.
Alok Sharma, Business Secretary, said: “The announcement will ensure some of our country’s most promising R&D projects get the investment they need to take off and thrive.
“Working with the private sector and our world-class universities, we’re backing new and innovative ideas that will create jobs and boost skills in every part of the UK for years to come.”
The Government has stated that the programmes will deliver long-term economic benefits in each city and area, creating new jobs, cultivating new skills and encouraging a competitive future for the UK economy as businesses look to rebuild and recover from the coronavirus pandemic.
The investment forms a part of UK Research and Innovation’s (UKRI) ‘Strength in Places Fund’, which aims to support R&D projects that will be a catalyst for local and regional economic growth.
To find out how Made Simplr could help you and your clients obtain R&D funding for relevant research and innovation projects, contact our expert team today.