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Industrial Strategy Challenge Fund to invest £20m in service industry innovation

A new pioneer fund worth £20 million will create new opportunities for businesses and researchers to work together to develop the next generation of services for the accountancy, insurance and legal industries.

The challenge is the latest in the Industrial Strategy Challenge Fund. Investing in the UK’s world-leading research and the most innovative businesses, the fund seeks to take on the biggest industrial and societal challenges of our time. It will be delivered by Innovate UK, which is part of UK Research and Innovation.

With the advancement of technologies such as artificial intelligence and data analytics, there is an opportunity to make the industry more efficient, productive and globally competitive – and, importantly, able to provide the very best services to clients and customers.

The challenge now is to make sure the industry is primed for the future and that the UK leads this huge market opportunity.

Through the £20 million pioneer fund, the government will support industry and research to work on projects that transform the industry. Details of activity within the fund will be released shortly.

 

Source: East Midlands Business Link

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