investing over £39.8 billion in research and development (R&D). This is the largest commitment ever made to research in Britain’s history.
With significant new investment comes responsibility. Now the UK needs to build on its world-leading position in science and technology and continue to attract the brightest minds from across the globe. To do this, we must ensure our scientists and researchers can work together with industry and academia, while also ensuring our universities remain places where the next generation of inventors, entrepreneurs, engineers, and innovators can thrive.
The UK has already achieved great success in attracting inward investment into the country; however, there remains scope for further improvements. As part of our strategy to make the most of the opportunities ahead, we are committed to delivering the biggest increase in funding for R&D since 2010.
We recognize the importance of innovation within our economy and society and believe that the UK is well placed to capitalize on global trends that will shape how businesses operate in the future. We are committed to building a strong knowledge-based economy and to working closely with partners in government, business, academia, and the public sector to create an environment that supports creativity, growth, and prosperity.
This strategy sets out our ambition to become the number one destination for scientific discovery and engineering excellence worldwide. It outlines our plans to invest in the infrastructure needed to support these goals, including the creation of high-quality jobs, training, and skills. We are putting in place measures to promote enterprise, entrepreneurship, and commercialization of research output, whilst ensuring that we maintain our excellent university system.
It also sets out our plan to develop a vibrant and growing international science base, including the promotion of collaboration between countries around the world. We aim to increase investment in international academic research partnerships and encourage the engagement of European academics and institutions with leading US institutions.
We will look to maximize the impact of existing programs such as Horizon 2020, JISC, and Research Councils UK. Our aim is to secure continued support for key strategic initiatives, including the Biomedical Catalyst, Cancer Drug Fund, Medical Device Fund, Regenerative Medicine Platform, and Vaccines Challenge Fund.
We will also seek to extend access to UK research to developing nations and to increase the contribution of UK universities to international collaborations. Finally, we will continue to develop the National Health Service as a center of medical excellence and expand health data sharing and analysis capabilities.