New Research Fund

Science Minister David Willetts is poised to announce a new £100 million investment fund to support the establishment of research partnerships between universities, businesses, charities and philanthropic donors. The Research Partnership Investment Fund will be open to universities in he UK looking for investment in long term capital projects which leverage in significant private funding.

Institutions will be given the opportunity to bid for between £10 million and £35 million per project, and should be able to demonstrate that that they can attract at least double the amount given in private investment. Each application will be judged on whether it represents good value for money, and how much it will build on existing research capabilities.

The Minister said: “Collaboration between universities, charities and industry is vital for our economy, and attracts significant private investment in our world leading research base. The new Fund will bring together leading institutions and organisations. It will support excellent projects, which could include the purchase of high cost equipment through to stimulating the development of a new research campus and encourage innovation, drive growth and job creation.”

 
APA supports the government’s ongoing commitment to innovation, technology, research and the universities.

APA