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The Department for Science, Innovation and Technology (DSIT) has announced a new funding regime for research and development (R&D) activities.
Science Minister Lord Vallance unveiled the new criteria for Government departments and other public bodies to provide funding for 10-year periods in specific areas such as cutting edge computing and human health.
DSIT said this will give research organisations more certainty that their work will continue over the long term , helping to attract greater private investment, grow the UK economy and support the Government’s Plan for Change.
Specific funding will be determined in the coming weeks, but DSIT indicated it will involve areas such as quantum computing that cover complex areas that can take years to understand.
The criteria which will be used by departments and public bodies to identify and prioritise relevant 10-year funding proposals are centred around four areas: infrastructure and core capabilities; talent attraction and retention; international collaboration; and partnerships and business collaboration.
Need for stability
Lord Vallance said: “Research and innovation, from computing and AI to health breakthroughs need stability of funding.
“We are delivering on our manifesto commitment to support and encourage public bodies to deliver long term 10-year funding streams where appropriate, while retaining the flexibility of shorter term cycles to deal with emerging priorities.”
DSIT has worked with HM Treasure and other stakeholders to develop the principles and process by which organisations will be selected for the funding.
Its guidance recommends that public bodies should set a maximum limit for the proportion of R&D budget that, at any one time, should be allocated to 10-year funding. This will maintain the agility to respond to new and emerging priorities in the short and medium term.
Further details on the initial recipients of budgets will be set out in the second phase of the Spending Review.
Departments will operate their own selection process, in line with the guidance.
