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Written question asked by Lord Clement-Jones (Liberal Democrat) on Monday, 20 July 2026, in the House of Lords. It was due for an answer on Monday, 3 August 2026. It was answered by Baroness Lloyd of Effra (Labour) on Friday, 31 July 2026 on behalf of the Department for Business, Innovation, Science and Trade.

Innovation: Finance

Question

To ask His Majesty's Government when the fifth round of the Regulators' Pioneer Fund is expected to open; and whether it will confirm whether past winners remain eligible to apply with a materially different follow-on proposal.

Answer

The Regulators’ Pioneer Fund (RPF), delivered by the Regulatory Innovation Office (RIO), supports regulators and local authorities to develop and test innovative regulatory approaches that help accelerate innovation across a range of sectors and regions of the UK. In October 2025, the RIO awarded up to £7.9 million to 14 regulator and local authority-led projects through the fourth round of the Fund. These projects are due to conclude by the end of the 2026.

At London Tech Week in June 2026, the Government announced that the RIO would allocate approximately £70 million to regulatory innovation funding over the current spending review period. RIO is now developing the funding mechanisms, delivery model and supporting processes needed to deploy this funding effectively and maximise its impact.

Secondary information

Type
Written question
Reference
HL2307
Session
2026-27
Subjects
Finance Innovation
Link
View this Written question on www.parliament.uk