Last month saw some exciting new announcements in the innovation space. One of the most significant being government’s Queen speech which backed a new approach to funding emerging fields of research and technology, outlining initial plans to create a new research programme modelled on the U.S. Advanced Research Projects Agency (ARPA).
The U.S. ARPA was founded in 1958 with close links to the U.S. Department of Defence. It has played a key role in the space race, creation of the internet and more recently developing self-driving cars.
CBI Director-General, Carolyn Fairbairn, was invited to a roundtable to discuss the new proposals prior to the announcement, with Business Secretary Andrea Leadsom and Dominic Cummings, Chief Advisor to the Prime Minister.
Key initial reflections from the CBI on a potential ARPA model:
- UK innovation needs a longer-term higher-risk approach, with serious funding, which an ARPA-style model could potentially deliver if it receives an ambitious budget