Deadline: 29-Sep-22
Applications are now open for the Regulators’ Pioneer Fund for projects that will help create a UK regulatory environment that encourages business innovation and investment.
The competition’s aim is to help keep the UK at the forefront of regulatory thinking and experimentation.
Ensuring the UK is well-placed to extract the best value from innovation through regulation is a key commitment within the Innovation Strategy, which sets out the government’s vision to make the UK a global hub for innovation by 2035.
Funding Information
- They have allocated up to £12 million to fund projects in this competition.
- Individual projects can apply for up to £1 million in grant funding:
- Funding will be available for 8-month projects from 1 January 2023 till 31 August 2023 by which date projects must end
- Funding will be available for 12 – 18-month projects from 1 September 2023 to 28 February 2025, by which date projects must end
Project Types
The types of proposals they would encourage are those for:
- projects that harness new thinking, new methods and/or new technological approaches in order to improve regulatory delivery and performance, benefitting innovators and businesses (all project lengths);
- short research and development projects (8-month projects) that generate new learning by exploring:
- solutions for a regulatory issue faced by innovators or businesses; or
- proactive measures to better support innovators or businesses;
- a short trial or pilot study (8-month projects) of a new initiative to change a regulatory approach that can enhance support for innovators or businesses.
- two-part projects (12-18 months) that start with a short R&D project, trial or pilot study, followed by systematic review and implementation of a regulatory change that supports innovators or businesses.
Projects they will not fund
- are designed to enhance a regulator’s or local authority’s own performance without demonstrating significant positive benefits to businesses or innovators;
- would be reliant on ongoing government funding commitments beyond the duration of the project to deliver economic benefits;
- do not satisfy the essential requirements set out in this document;
- do not have:
- senior sponsorship at the applicant’s organisation and
- agreement that the findings, learnings and/or conclusions from the project will be shared with BEIS to facilitate the evaluation of the RPF policy measure as required by HM Treasury.
Eligibility Criteria
- To be eligible for funding you must be a body which meets the following three criteria:
- exercises a ‘regulatory function’, as defined in section 32(2)-(4) of the Legislative and Regulatory Reform Act 2006;
- performs that regulatory function in Scotland, Wales, Northern Ireland, England or across the UK; and
- is subject to and follows the guidance in HM Treasury’s Managing Public Money handbook, or, if not subject to that guidance, is able to demonstrate compliance with Managing Public Money principles with respect to any funding received from the RPF.
- Only the regulator or local authority leading and sponsoring a project may submit an application and claim funding. They are the lead applicant.
For more information, visit https://www.gov.uk/government/publications/apply-for-the-regulators-pioneer-fund-round-3/regulators-pioneer-fund-competition-brief-for-funding-round-3