The Royal Academy of Engineering will get a 15% increase in its funding over the next three years, following the Government’s commitment this week to inject an extra £700m cash into the science budget.
Part of the funding is earmarked to set up a pilot research fellowship scheme to fund industrially-linked post-doctorate research.
The Government said the extra funding over the next three years was to ensure the UK’s science and engineering base is fit for the next century.
The extra money includes £300m to be pumped into the existing £600m partnership with the Wellcome Trust to upgrade university research laboratories and equipment.
As much as £20m of the science budget is earmarked for ‘University Challenge’, a joint project to provide seedcorn funding to enable universities to exploit ideas emerging from the research.