Today, the government has announced it will be establishing a new independent research body, ARIA (the Advanced Research & Invention Agency), to fund high-risk, high-reward scientific research. We have learned that:
- The new model of ARIA will be independent of existing government innovation frameworks to allow for operational flexibility and speed
- ARIA will have a greater appetite for failure than is normal for a government-backed agency, recognising the pivotal role failure plays in innovation
- The government have committed to fund ARIA with £800m allocated over the course of this Parliament.
Last year, in response to the initial manifesto commitment to establish the agency, the CBI published our recommendations for how the organisation should be structured to address existing holes in the innovation landscape and deliver ground-breaking results that tackle society’s biggest challenges.
We are delighted to see that some of these recommendations are reflected in today’s announcement. As the agency continues to take shape it will be essential to ensure