Russell Group response to £95m R&D investment at the Henry Royce Institute

04 November 2022

In response to the BEIS announcement of a £95 million investment supporting research and innovation in advanced materials at the Henry Royce Institute, headquartered in Manchester, Dr Tim Bradshaw, Chief Executive of the Russell Group, said:

“Public investment in R&D is one of the most effective forms of seed funding to grow the economy. As well as fuelling the innovation that delivers the technological advances to tackle big societal challenges like net zero, it creates jobs and draws in investment in towns and cities across the whole of the UK.

“Research intensive universities like those in the Russell Group have a track record of using this funding to turn ideas into real world impacts that can change people’s lives for the better. Last year, businesses spun out of research at our universities created more than 30,000 jobs and almost £5bn of private investment so it’s great to see Government backing the UK’s world leading R&D sector like this.”