{"id":35388,"date":"2023-07-26T14:50:39","date_gmt":"2023-07-26T13:50:39","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=35388"},"modified":"2023-07-27T08:29:03","modified_gmt":"2023-07-27T07:29:03","slug":"new-game-changing-uk-fund-will-boost-science-and-tech-research","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/new-game-changing-uk-fund-will-boost-science-and-tech-research\/35388\/","title":{"rendered":"New game-changing UK fund will boost science and tech research"},"content":{"rendered":"

A new fund launched by the UK government will unlock up to \u00a350m to drive new discoveries in science and tech research.<\/h2>\n

The launch of the Research Ventures Catalyst<\/a> will drive more philanthropic and private funding into UK science and tech research.<\/p>\n

The Catalyst programme will open up bids of up to \u00a3100,000 in \u2018seedcorn\u2019 funding to allow researchers to develop full plans for their proposed ventures. Eventually, it will deliver up to \u00a350m of investment, backed by government, with additional private and philanthropic co-investment.<\/p>\n

The fund will also build on the UK\u2019s position as a strong international financial centre for science and innovation<\/a> and tackle some of the world\u2019s most pressing challenges.<\/p>\n

The importance of science and tech research in our developing economy<\/h3>\n

Science and technology will be the major driver of prosperity, power, and history-making events this century. The UK\u2019s future success as a rich, strong, influential country whose citizens enjoy prosperity and security and fulfilled healthy and sustainable lives will correspondingly depend on our ability to build on our existing strengths<\/a> in science, technology, finance, and innovation.<\/p>\n

UK Secretary of State for Science, Innovation and Technology, Michelle Donelan, explained: \u201cFrom Edward Jenner\u2019s invention of the very first vaccine to the scientists in Manchester who isolated graphene, so many British breakthroughs which have changed the world would not have been possible without people who dared to do things differently and take calculated risks.<\/p>\n

\u201cIn today\u2019s world, science and tech research is just as important as ever. Research and innovation hold the keys to a vast range of benefits and opportunities, from radically improving healthcare to creating whole new industries in fields from quantum to engineering biology.\u201d<\/p>\n

She added: \u201cThis work is impossible without funding. Therefore, we\u2019re inviting private and philanthropic partners to work with us through the Research Ventures Catalyst to put real financial firepower behind the world-leading science happening in the UK.\u201d<\/p>\n

\"An,Advanced,Cpu,Printed,With,A,Flag,Of,Uk,On\"
\u00a9 shutterstock\/Dragon Claws<\/figcaption><\/figure>\n

How the partnerships will impact the science and technology sector<\/h3>\n

Unlocking more private and philanthropic investment in science and tech research is one of the key objectives of The UK Science and Technology Framework<\/a>, which is already delivering for the UK science sector through its groundbreaking partnerships.<\/p>\n

This framework sets out the government\u2019s goals and vision for science and technology in an enduring framework that will see us through to 2030. It has been developed in close collaboration with the UK science and technology sector. It represents a commitment to scaling our ambition and delivering the most critical actions needed to secure a strategic advantage through science and tech research.<\/p>\n

The government continues to engage with Schmidt Futures, a philanthropic initiative of Eric and Wendy Schmidt, about their support of up to $20m as part of our work to spur co-investment in science and tech from private and philanthropic sources.<\/p>\n

Delivering new, innovative, agile funding models such as these delivers on the government\u2019s response to Sir Paul Nurse\u2019s Landscape Review findings. It builds on the already-record levels of public sector commitment to spending on R&D. This government has invested \u00a320 billion in R&D in 2024-2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

Learn more about a new UK fund that will unlock up to \u00a350m to drive new discoveries in science and tech research.<\/p>\n","protected":false},"author":22,"featured_media":35394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24429,830],"tags":[24208],"acf":[],"yoast_head":"\nNew game-changing UK fund will boost science and tech research<\/title>\n<meta name=\"description\" content=\"Learn more about a new UK fund that will unlock up to \u00a350m to drive new discoveries in science and tech research.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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