Innovate UK Industrial Strategy Challenge Fund
What is the Industrial Strategy Challenge Fund? It's a fund that will invest in science and innovation challenges, to meet the demands and opportunities of UK industry.
It was first announced late November last year, when the Prime Minister confirmed the Industrial Strategy Challenge Fund would be a major element of the industrial strategy.
In the days following the announcement the Chancellor committed an additional £4.7 billion investment in science and innovation over the life of this parliament - the greatest single increase for nearly 40 years.
Recently the Industrial Strategy consultation document included 'investing in science, research and innovation' as the first of 10 'pillars' - a major endorsement of the value that we know science and innovation can bring to this country and the economy.
Crucially, the Industrial Strategy document also included a focus on supporting businesses to start and grow, and driving growth across the whole country. All things that Innovate UK are working hard to deliver.
8 areas have been identified as having a combination of great market potential and excellent UK research and industrial capability:
* Bioscience and biotechnology
* Leading edge healthcare and medicine
* Manufacturing processes and materials of the future
* Smart, flexible and clean energy technologies
* Quantum technologies
* Robotics and artificial intelligence
* Satellites and space technologies
* Transformative digital technologies
The Industrial Strategy Challenge Fund is just one aspect of the industrial strategy. Through the Government consultation you can feed in your ideas on science, research and innovation - or any of the other pillars - until April 17th. Go to the following link to add your say:
https://www.gov.uk/government/consultations/building-our-industrial-strategy
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