A major new investment of £1.3 billion has been announced by Business Secretary Greg Clark, that will help UK talent and skills to grow and attract the best in science and innovation. The funding will also attract and retain world-class talent and guarantee the UK’s position at the forefront of innovation and discovery through the modern Industrial Strategy.
As part of his speech to the International Business Festival in Liverpool, Mr Clark outlined £1.3 billion of investment for British universities and businesses to develop the next generation of entrepreneurs, innovators and scientific leaders who will ensure our future economic prosperity.
Business Secretary Greg Clark said, “International collaboration has been key to many of the most significant discoveries and breakthroughs and I want the UK to remain the go-to destination for the best scientists and innovators. We are investing in the rising stars of research and innovation to ensure the UK is where the products and technologies of tomorrow are developed.”
On this occasion, Business Secretary Clark also launched prestigious £900 million UK Research and Innovation (UKRI) Future Leaders Fellowship Scheme which is open to best researchers from around the world. This fellowship scheme will receive £900 million over the next 11 years, with 6 funding competitions and at least 550 fellowships awarded over the next 3 years.
The investment will provide up to 7 years of funding for early-career researchers and innovators, including support for part-time awards and career-breaks, providing flexibility to researchers to tackle ambitious and challenging areas.