Science Minister Sam Gyimah recently launched the UK chairmanship of the international innovation network EUREKA, addressing the global challenge to hunt for world-changing products and services needing support to reach the market.
He attended the event celebrating the UK taking on the chairmanship of EUREKA – a global network which has invested nearly £35 billion in projects in 40 countries worldwide- for the third time. EUREKA, brings together more than 40 nations to collaborate on research and development and supports the ambitions of the government’s modern Industrial Strategy.
During the one-year chairmanship, the UK aims to expand the global reach of EUREKA and will invest an extra £10 million to support UK businesses and innovators bring new products to market.
Speaking at the launch Science Minister Sam Gyimah said:
Here in the UK, as we prepare for leaving the European Union, we face an important question: how will we as a country make our way in the world? What sort of country do we choose to be? My answer to this is clear: we will only thrive if we embrace ideas and openness, and double down on an innovative economy. Our Industrial Strategy will be key to this.
And we are backing this engagement with investment. Already, we have announced the biggest increase in public R&D investment for over 40 years, including the establishment of a £4.7 billion Industrial Strategy Challenge Fund to back business-focused research. And we are going further. As part of our industrial strategy, we have set out our ambition to increase the UK’s R&D spend to 2.4% of GDP by 2027.
EUREKA is a platform to support those partnerships in research and innovation, enabling businesses to collaborate across borders, accessing new knowledge, capabilities and markets. Today, I am delighted to announce that the UK will inject an additional £10 million for UK companies to collaborate with global businesses on innovation projects through the EUREKA platform, helping to create new products and services and drive business growth.
It is with great pride that I launch the UK’s EUREKA chairmanship, beginning on 1 July, here among so many partners from around the world. I look forward to seeing all you achieve in the coming year.
Since its creation in 1985, EUREKA has supported a range of companies and organisations.
During the event, it was also confirmed that an additional £10 million of funding is being provided to UK EUREKA participants that will open up global R&D and innovation collaboration opportunities for UK companies to help drive growth. This will help to create new products and services by providing access to specialist knowledge, people and capability supporting UK companies to take advantage of global market opportunities.