Who will help drive UK innovation forward with the 'largest ever' R&D budget?

The recent announcement of the largest ever research and development (R&D) budget of £39.8 billion for Department for Business, Energy & Industrial Strategy (BEIS) partner organisations aims to boost UK innovation from 2022-2025.

According to Business Secretary Kwasi Kwarteng:

For too long, R&D spending in the UK has trailed behind our neighbours - and in this country, science and business have existed in separate spheres. I am adamant that this must change. Now is the moment to unleash British science, technology and innovation to rise to the challenges of the 21st century.

My department’s £39.8 billion R&D budget – the largest ever R&D budget committed so far – will be deployed and specifically targeted to strengthen Britain’s comparative advantages, supporting the best ideas to become the best commercial innovations, and securing the UK’s position as a science superpower.

This is exciting news for the nation as it will help achieve Kwarteng's vision of the UK becoming a 'science superpower'.

Yet many of us wonder which organisations will be using this budget to help drive the nation's research and knowledge exchange landscape forward.

According to the BEIS research and development (R&D): partner organisation allocation report released on March 14 2022, the partner organisations that will be allocated the budget are as follows:

📌 UK Research & Innovation
📌 UK Space Agency
📌 UK Atomic Energy Authority
📌 National Academies
📌 Met Office
📌 National Measurement System
📌 BEIS Programmes
📌 Advanced Research & Invention Agency
📌 Government Office for Science
📌 Nuclear Decommissioning Authority
📌 UK Contribution to EU Programmes

Head of Policy and Engagement at the National Centre for Universities and Business (NCUB) Rosalind Lowe believes that these recent budget announcements for such organisations shall play a fundamental role in the UK's journey to becoming an ''innovation nation.''

"Committing to a research and development budget for 2022-25 of £39.8bn sends a positive message to researchers and businesses around the world that we are serious about growing our research and innovation capabilities. The Government has today shown its commitment to a vision of a better future driven by research and innovation,” said Lowe.

And with the biggest ever budget allocation underway for the UK, we at KEVRI are excited to see such investments trigger increased research, knowledge exchange and innovation across our national higher education sector.

If you'd like to find out more about this budget allocation announcement and the organisations involved, head over to the official press release where further information can be found!