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Written question asked by Chi Onwurah (Labour) on Monday, 15 April 2024, in the House of Commons. It was due for an answer on Thursday, 18 April 2024 (named day). It was answered by Andrew Griffith (Conservative) on Thursday, 18 April 2024 on behalf of the Department for Science, Innovation and Technology.

Science and Technology: Foreign Investment in UK

Question

To ask the Secretary of State for Science, Innovation and Technology, with reference to the UK Science and Technology Framework, last updated on 9 February 2024, what assessment her Department has made of its progress against the goal of working with industry and philanthropic partners to increase inward investment by Summer Recess 2023.

Answer

DSIT has made significant strides towards enhancing collaboration with industry and philanthropic partners to bolster investment.

Last year’s successful Global Investment Summit attracted more than £29 billion, including landmark investments in AI, life sciences and quantum. We will continue to build on our collaborative approach to increase philanthropic and private investment, including working with DBT and the Office for Investment, to further our investment ambitions.

We announced £25 million for UK Biobank conditional on philanthropic match-funding within a consortium. So far, we have secured £16 million from philanthropists Eric Schmidt and Ken Griffin, and work is underway to secure further donations.

Secondary information

Type
Written question
Reference
21666
Session
2023-24
Subjects
Technology Science Foreign investment in UK
Link
View this Written question on www.parliament.uk