The National Centre for Universities and Business warmly welcomes today’s announcement from DSIT outlining plans for 10-year research budgets—an important step toward long-term stability and innovation in the UK’s research ecosystem.
Dr Joe Marshall, CEO at NCUB says: “This is something NCUB has long advocated for, recognising that it will allow businesses to plan collaborative work with universities on a more stable footing—unlocking more strategic research planning and driving greater innovation. We’re pleased to see this acknowledged through the inclusion of partnerships and business collaboration as one of the four selection criteria announced today.”
DSIT must now ensure this vital mechanism is backed with the sustained funding it needs to deliver impact.
“As technologies that underpin our economy evolve at pace, it is vital that the UK leads this transformation rather than follows it. We have the foundations to do so—but leadership won’t happen without sustained support. Now is a pivotal moment to invest in both talent and research and development (R&D), the twin pillars of success in a rapidly changing world.”
NCUB acknowledges that the government will be faced with difficult spending decisions in the upcoming review.
Dr Marshall adds: “It is important that government prioritises the kind of investment that will create jobs, stimulate economic growth, and bolster the UK’s competitiveness and global leadership. NCUB economists estimate that every £1 of public investment in research and innovation unlocks between £3.09 and £4.02 in private investment over time”.
“Today’s announcement of 10-year budgets sends a strong signal to business partners that the UK is committed to long-term innovation and progress. It builds confidence for businesses to invest in their own programmes that align with this national mission. However, it is essential that this signal of intent is backed by robust and sustained funding commitments
