U.K. Creates $1.1 Billion Agency to Fund ‘High-Risk’ Science
- U.S.-inspired body able to fund pioneering research at speed
- Government is seeking to promote U.K. as science ‘superpower’
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The U.K. announced an 800 million-pound ($1.1 billion) agency to fund “high-risk, high-reward” scientific research as ministers seek to position the country as a science “superpower.”
The Advanced Research and Invention Agency will be able to invest at speed in risky projects and “have a much higher tolerance for failure than is normal,” the Business, Energy and Industrial Strategy Department said in a statement Friday. “In research the freedom to fail is often also the freedom to succeed.”