The UK government has recently announced a new investment programme aiming to increase capital for research and development (R&D)-intensive firms specializing in emerging technologies.
Indeed, the government will be offering £375m in funding to R&D-intensive firms that will be working on areas such as quantum computing, cleantech, and life sciences. By doing so, the government hopes to encourage the growth of these innovative sectors to boost economic recovery.
It was reported that the UK is fertile ground for creating high-growth companies based on cutting edge technologies. Hence, through the commercialization of R&D, companies will accelerate the deployment of innovative technologies, develop new medicines, support the transition to a net-zero economy and strengthen the UK’s position as a science superpower.
In the long term, this will help the UK become a world leader in the industries of the future.