The government’s UK Research and Innovation (UKRI) agency has invested £98.5 million into businesses and researchers in the North-west that are tackling major societal challenges.
The UKRI is funding 156 projects in the region that are working towards aims such as decarbonisation and improving agricultural yields. Nine researchers and 118 businesses are benefiting from the government’s investment in the North-west.
The funding falls under UKRI’s Industrial Strategy Challenge Fund (ISCF) which has already injected £1.7 billion into research across the UK spanning the areas of clean growth, ageing society, the future of mobility, and artificial intelligence and data economy.
One organisation to benefit from research funding is Peel Environmental Limited Manchester which has been awarded over £35,000 to develop a plan to decarbonise to net-zero all greenhouse gas emissions associated in Cheshire and surrounding areas in the North-west and North Wales. The plan will contribute to the UK reaching its Net Zero CO2 2050 target.
Mike Biddle, ISCF Programme Director at UKRI said:
The projects we’ve seen so far in the North-west will help tackle the industrial challenges of the future and contribute to the UK reaching its Net Zero 2050 target. Many of these projects also look to bring skilled jobs and inward investment to the region.
“We’ve seen 63% of all project participants anticipate that annual turnover will increase as a result of engaging with the Challenge Fund. We encourage the top minds in industry and academia across the North-west to come together and apply for funding to help bring research to life and develop real-world applications that will see benefits on a local and national level.”
UKRI seeks to drive business investment in R&D and multi and interdisciplinary research, improve business-academic engagement on innovation activities, encourage collaboration between companies and attract overseas investment in R&D in the UK.
ISCF has identified 23 key challenges facing UK businesses. From transforming food production to self-driving vehicles and commercialising quantum technologies, the investments made are already transforming existing industries by refining and creating new technological innovations.
With 231 projects completed and 1,600 funded so far, UKRI has already injected £1.7 billion into 1,544 businesses across the UK with an additional £567m invested by private industry. It is anticipated that ISCF funding will result in over 6,000 jobs created over the next five years.