Last month, the UK announced the formation of the United Kingdom Research and Innovation (UKRI) funding organization. The body is made up of the country’s seven Research Councils, Innovate UK and the Higher Education Funding Council for England (HEFCE), and will work autonomously from the government in allocating funding for research and innovation. UKRI is expected to receive over £6 billion ($6.8 billion) per year in public funding to help drive growth in research and discovery, as well as encourage multi- and interdisciplinary research in the higher education sector. UKRI will have nine independent Councils, with seven Councils continuing the operations of the Research Councils; one Council continuing the operations of Innovate UK; and one Council, Research England, focusing on England-centric research operations that are currently undertaken by the HEFCE. The British government hopes that UKRI will help maximize the value of research investments in the country.

Source: Department of Business, Innovation & Skills