RCUK welcomes 100M investment in research capital for universities

Research Councils UK (RCUK) is pleased to welcome the new £100 million investment in research capital for universities announced by the Chancellor George Osborne during his budget today (21 March). The funding, to be administered by HEFCE, will be dedicated to large capital projects which lever significant private investment, such as joint research facilities.

This funding is a boost to UK research, which has seen reductions to capital budgets, as it will help accelerate private sector investment in research infrastructure. Investment in the research base is essential to stimulating growth and this new funding acknowledges how vital research is to the economic prosperity and societal wellbeing of the UK.

RCUK activity encourages and facilitates partnerships between the private sector and researchers in UK universities through collaborative funding, knowledge transfer initiatives and by providing access to world-class facilities.

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Further information

Contact:
Alexandra Saxon
Tel: 01793 444474 or email: alexandra.saxon@rcuk.ac.uk

Notes to editors

1. The Budget documents are available from the Treasury website here http://www.hm-treasury.gov.uk/budget2012.htm

2. Research Councils UK (RCUK) is the strategic partnership of the UK's seven Research Councils who annually invest around £3 billion in research. We support excellent research, as judged by peer review, that has an impact on the growth, prosperity and wellbeing of the UK. To maintain the UK’s global research position we offer a diverse range of funding opportunities, foster international collaborations and provide access to the best facilities and infrastructure around the world. We also support the training and career development of researchers and work with them to inspire young people and engage the wider public with research. To maximise the impact of research on economic growth and societal wellbeing we work in partnership with other research funders including the Technology Strategy Board, the UK Higher Education funding bodies, business, government, and charitable organisations. www.rcuk.ac.uk.

   The seven UK Research Councils are:

   • Arts & Humanities Research Council (AHRC);
   • Biotechnology & Biological Sciences Research Council (BBSRC);
   • Economic & Social Research Council (ESRC);
   • Engineering & Physical Sciences Research Council (EPSRC);
   • Medical Research Council (MRC);
   • Natural Environment Research Council (NERC);
   • Science & Technology Facilities Council (STFC).