Brussels, 14 Feb 2003
UK Science Minister Lord Sainsbury has announced a one billion GBP (1.5 billion euro) funding boost for university research.
The scientific research investment fund will benefit more than 150 universities and institutions. Recipients will be able to spend their allocation inline with their own research strategy, but must first submit proposed projects to the UK higher education funding council. Funds can be used to refurbish premises for research, replace or upgrade equipment or for replacing research premises.
'The research carried out in our laboratories today is the foundation for the new products, medicines and technologies for tomorrow. [...] Today's injection [...] is the largest ever government investment in our science research infrastructure and will ensure that UK science remains at the cutting edge,' said Lord Sainsbury.
The aim of the funding is to put research on a sustainable and long term footing. The allocations will be made on a formula basis involving the institution's 2002 and 2003 quality-related research income and on total research income in the years 2000 and 2001. The institutions will be required to match 10 per cent the government funding with their own funds. The biggest funding boost will go to University College London, which will receive 63.9 million GBP (95.8 million euro). An additional three universities will receive over 60 million GBP (90 million euro): Imperial College of Science, Technology and Medicine, University of Cambridge and University of Oxford.
'We cannot remain at the cutting edge of research if we are dependent on ageing and inadequate buildings and equipment. This funding will provide further crucial help in turning round years of under-investment. [...] this investment will ensure that our higher education institutions have the resources they need to compete on the global research stage,' said Higher Education Minister Margaret Hodge.
For further information on the funding, please visit: