Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Government launches £50m Fund with Investors to turbocharge UK as Tech Superpower

by July 27, 2023
July 27, 2023
Government launches £50m Fund with Investors to turbocharge UK as Tech Superpower

The Government has today launched the Research Ventures Catalyst fund, injecting £50 million to bolster cutting-edge research in tech and science.

The fund, based on partnerships with private and philanthropic investors, is set to unlock tens of millions of GBP and drive new discoveries across the health, tech and science sectors.

The launch of the Catalyst is also set to drive further private and philanthropic funding into UK R&D, building on the capital’s position as a key global financial centre as new ways of joint-funding research is piloted.

Funds will go toward the likes of discovering new ways of tackling deadly diseases, climate change, and developing emerging technologies that will potentially underpin the future economy.

Laimonas Noreika, co-founder of HeavyFinance, commented: “Financial backing is key to the research and development of climate tech, which is rising in prevalence as temperatures soar and we see the tragic events unfolding across Europe. The funding will encourage innovators to take new approaches with confidence and support will unlock further benefits in the fight against climate change. This will hopefully encourage investors to continue supporting climate tech companies and funds to provide sectors such as agriculture with the knowledge and technology they need to reduce carbon emissions.”

The UK Science and Technology Framework set out to unlock greater private and philanthropic investment in UK R&D, and such partnerships are helping meet its objectives.

Steven Mooney, CEO of FundMyPitch, added: “As funds such as these get introduced, we are getting one step closer the UK needs to create a thriving investment market. Startups and SMEs host plentiful potential and such combined efforts from the Government, private and philanthropic investors to support growing companies with their innovative products will alleviate any risks that may occur threatening the development of their ideas. Not only will we see fantastic new projects come to fruition, but we shall also see increased confidence from investors.”

This government has committed to invest a total of £20 billion in R&D in 2024-2025.

Michelle Donelan, Secretary of State, said: “From Edward Jenner’s invention of the very first vaccine, to the scientists in Manchester who isolated graphene, so many of the Great British breakthroughs which have changed the world would not have been possible without people who dared to do things differently, and take calculated risks. In today’s world, that approach is just as important as ever.”

“Research and innovation hold the keys to a vast range of benefits and opportunity, from radically improving healthcare to creating whole new industries in fields from quantum to engineering biology. But this work is impossible without funding. That is why, I am making an open invitation to private and philanthropic partners in the City and beyond to work with us through the Research Ventures Catalyst to put real financial firepower behind the world-leading science happening in the UK.”

 

Read more:
Government launches £50m Fund with Investors to turbocharge UK as Tech Superpower

0
FacebookTwitterGoogle +Pinterest
previous post
62% of hospitality businesses think sector receives less support than other industries
next post
Half of self-employed workers do not have confidence in HMRC

You may also like

UK car production drops by over 20% as...

October 24, 2024

Investec and OakNorth embroiled in row over COVID...

October 26, 2023

UK issues urgent call for sustainable practices within...

February 20, 2024

Ministers urge RMT union to halt rail strikes...

December 2, 2022

How can employers avoid problems at staff parties?

November 22, 2023

ESG marketplace Tesel raises £320,000 to help companies...

May 4, 2023

Co-op to halt sales of Israeli goods and...

June 25, 2025

5 Notable Reasons Why Your Business Should Invest...

July 13, 2023

February sees Highest UK new car sales reach...

March 6, 2024

Think tank calls for delay in farm inheritance...

November 26, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How Staff Can Strengthen HIPAA Compliance and Security

      June 29, 2025
    • Lotus denies plans to close Hethel factory amid US expansion talks

      June 29, 2025
    • Top university degrees lose sway as tech employers prioritise job-ready skills

      June 29, 2025
    • Government urges supermarkets to make healthy food more appealing in bid to tackle obesity crisis

      June 29, 2025
    • Senate Republicans ram Trump’s ‘big, beautiful bill’ through key test vote

      June 29, 2025
    • Chief Justice Roberts sounds alarm on dangerous rhetoric aimed at judges from politicians

      June 29, 2025

    Categories

    • Business (8,334)
    • Investing (2,081)
    • Politics (15,853)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved