The UK wants to reinforce its position as a global technology innovation powerhouse. According to Computer Weekly, new legislation is being drafted that will allow for the creation of a new body focused exclusively on innovation.
The Advanced Research & Invention Agency (ARIA) will operate free from government influence and have to deal with only minimal red tape. It is supposed to be a high risk, high reward initiative, with a level of failure not only accepted, but also expected.
ARIA projects will aim to have a transformative impact on society, driving forward post-pandemic recovery in the UK.
The government will fund ARIA with more than $1.1 billion and expects it to be fully operational some time next year. We still don't know who will be in charge, but the hunt for an interim CEO and chair will begin in the coming weeks.
Russell Group praised the idea, it was reported, describing ARIA as a “real statement of intent”.
"Get ARIA right and we can unlock technological innovations that will drive post-pandemic recovery and help tackle global challenges like reaching net zero," said Tim Bradshaw, Russell Group CEO.
"This new agency has the potential to help turn their ideas into technologies that will support jobs and change our country for the better. Covid has shown us just how quickly UK researchers can react to rapid funding calls. Removing unnecessary bureaucracy and giving ARIA the ability to act flexibly will help cutting-edge projects go forward at pace."