|
Getting your Trinity Audio player ready...
|
The Department for Science, Innovation & Technology (DSIT) today announced a major funding package of around £55 billion to support research and development (R&D) across the UK over the Spending Review period ending 2029/30. The funding is described as a real-terms increase and is intended to back breakthroughs in health, clean energy, artificial intelligence and other strategic technologies.
For the period 2026/27-2029/30, DSIT’s overall R&D budget is set to grow in real terms and total approximately £58.5 billion. Within that envelope, the country’s main research funding agency, UK Research and Innovation (UKRI), is allocated around £38.6 billion over the same period – rising to nearly £10 billion per annum by 2029/30. Additional earmarked funding includes increases for the Advanced Research & Invention Agency (ARIA), the Met Office, the National Academies, the National Measurement System and AI security initiatives.
For SMEs this is a strong signal that the UK government is prioritising innovation and offering sustained backing for R&D. The scale and multi-year nature of the funding means businesses working in health, clean energy, AI, measurement technologies or other strategic sectors should monitor forthcoming funding calls and initiative launches from UKRI, ARIA and DSIT. You may want to consider how your project aligns with foundational science, strategic government priorities or scaling UK-based industry growth – as DSIT points out these are its three core R&D priorities.
If you want to see the full set of UK Innovation funding currently available, please visit https://getbusinessgrants.com/