Government of UK commits $915M funding for future technologies

The UK government will invest £743.5 million across several innovative projects spanning from autonomous vehicles to airborne laboratories 

The Government of UK has announced plans to pour £743.5 million ($915 million) into future technologies to help the UK secure its place as a global Science Superpower.

This new funding, being declared at the London Tech Week, will be supporting emerging innovations varying from autonomous self-driving vehicles to airborne labs as part of the broader effort undertaken by the government to invest in tech, generating jobs and growth of the economy.

This comes in line with the publishing of the Innovation Strategy last year, according to which the government plans to put innovation at the core of everything it does, making sure that the UK is at the vanguard of the latest technologies, propping up the competitiveness of the country on the global stage and supporting the economy.

This will ensure the creation of a solid ground for the future of British citizens by enhancing industry, creating jobs, and redefining the lives of millions of people by providing skilled jobs for the future.

Secretary of State for Business, Kwasi Kwarteng said that the work done by the task force assigned for the vaccine, retained in their department throughout the COVID outbreak, showcased that this country has some extraordinary innovators and scientists worldwide.

He highlighted that it is a proud moment for the country given the breakthrough research conducted so far, having affirmed £40 billion ($48.5 billion) in funding for R&D for the next three year and locating it on the top of the agenda.

He added that the government is declaring around £743 million ($915 million) in investment – including in the latest significant technologies – for ensuring that Britain has a pole position in the global market in many new areas.

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