{"id":31059,"date":"2023-03-17T10:42:57","date_gmt":"2023-03-17T10:42:57","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=31059"},"modified":"2024-09-04T20:14:34","modified_gmt":"2024-09-04T19:14:34","slug":"uk-government-announces-3-5bn-science-and-technology-funding","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/uk-government-announces-3-5bn-science-and-technology-funding\/31059\/","title":{"rendered":"UK Government announces \u00a33.5bn funding to become global science and technology superpower"},"content":{"rendered":"

The UK Government has revealed it will provide up to \u00a33.5bn in funding to advance the nation’s science and technology capabilities.<\/h2>\n

As part of his Spring Budget, UK Chancellor of the Exchequer, Jeremy Hunt, announced the sizeable funding to position the UK as a global superpower in the science and technology sector.<\/p>\n

This substantial fiscal power will help support the Department for Science, Innovation and Technology in achieving vital UK priorities, such as boosting the economy and creating lucrative job opportunities.<\/p>\n

The new announcement follows the recent publication of the government’s Science and Technology Framework<\/a>, which is backed by \u00a3370m in funding to finance projects that will enhance infrastructure and workforce capabilities in the science and technology sector.<\/p>\n

The new funding will further supplement the Framework’s targets of nurturing innovative science and technology start-ups, increasing research and development, and establishing a ‘pro-innovation culture’ in the UK’s public sector.<\/p>\n

Additionally, the government confirmed it would accept the recommendations of Sir Patrick Vallance’s review into regulating emerging digital technologies, making the country a pioneer in regulating future technologies.<\/p>\n

Michelle Donelan, the UK Science, Innovation and Technology Secretary, said: “This week, we’ve shown that actions speak louder than words\u00a0in our push to make\u00a0the UK\u00a0a science and technology superpower. We stepped in to protect the finances of our burgeoning tech sector over the weekend, set out our roadmap to regulate tomorrow’s industries, and committed huge sums of investment in the Spring Budget.<\/p>\n

“When I launched this Department, I promised to ensure every lever of government was behind our plans to drive growth through science and innovation.\u00a0Yesterday’s Budget shows that as a government, we are putting our money where our mouth is, backing the industries that will create jobs, provide the firepower to invest in our public services, and ultimately improve lives.”<\/p>\n

Innovation accelerators to optimise UK science and technology<\/h3>\n

Through the Innovation Accelerators programme, the government plans to invest \u00a3100m into 26 transformative\u00a0R&D\u00a0projects in Glasgow, Greater Manchester, and West Midlands to boost the country’s science and technology capabilities.<\/p>\n

This will enable cities to become competitors on the global science and technology stage and support levelling up and economic growth through a new\u00a0R&D\u00a0decision-making model. Some of the selected 26 projects include:<\/p>\n