The UK Government has announced £1.3 billion of new funding to attract and retain world-class science and technology talent.
The UK Research and Innovation (UKRI) Future Leaders Fellowship Scheme will receive £900 million from the government over the next 11 years and aims to help the next generation of entrepreneurs, business leaders and innovators develop their careers.
It will fund at least 550 new fellowships for the best candidates from academia and business and hopes to guarantee the nation’s position at the forefront of innovative technologies such as offshore wind and driverless cars.
In addition, the Royal Society, Royal Academy of Engineering, British Academy and Academy of Medical Sciences will collectively receive £350 million to increase the number of fellowships on offer and £50 million has been allocated to support PhD research into AI technology.
Business Secretary Greg Clark said: “International collaboration has been key to many of the most significant discoveries and breakthroughs and I want the UK to remain the go-to destination for the best scientists and innovators.
“We are investing in the rising stars of research and innovation to ensure the UK is where the products and technologies of tomorrow are developed.”
The announcement comes ahead of World Engineering Day on the 1st of July.