DSIT gets £370m funding boost to support UK tech

DSIT funding Image credit: Shutterstock

The government has allocated £370m in funding to the newly established Department for Science, Innovation and Technology (DSIT) to invest in technology such as AI and quantum computing.

Alongside the funding announcement, DSIT has published its Science and Technology Framework paper, which sets out how the UK can work towards becoming a “science and technology superpower”.

Prime Minister Rishi Sunak said: “Trailblazing science and innovation have been in our DNA for decades. But in an increasingly competitive world, we can only stay ahead with focus, dynamism and leadership.”

AI, quantum and biotech technology will receive £250m out of DSIT’s funding pot, with a further £50m on university and research institutes labs and £9m on a Cheshire-based quantum computing research centre.

DSIT was created by Rishi Sunak during his government reshuffle last month, former DCMS head, Michelle Donelan, was appointed to lead it.

Science, Innovation and Technology Secretary Michelle Donelan said: “Innovation and technology are our future.

“They hold the keys to everything from raising productivity and wages, to transforming healthcare, reducing energy prices and ultimately creating jobs and economic growth in the UK, providing the financial firepower allowing us to spend more on public services.”

Last month DSIT awarded its first amount of funding to the medical research centre the Rosalind Franklin Institute in Oxfordshire.