UK robotics to benefit from increased R&D funding

British Prime Minister Theresa May has announced an extra £2 billion annual investment in research and development by 2020.

A new Industrial Strategy Challenge Fund will be established to support priority fields such as robotics and artificial intelligence.

Overseen by UK Research and Innovation, the Industrial Strategy Challenge Fund will help Britain to build on existing strengths in research and development. The Government sees a significant economic opportunity for commercialisation, as ideas developed in the UK are often commercialised outside the country.

The Prime Minister also plans to review current R&D tax incentives, to secure global competitiveness.

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