The fourth round of the Regulators’ Pioneer Fund opens today (22nd May), which has up to £5.5 million of funding available for pioneering projects that have the potential to unlock advancements in sectors like health, transport, and energy.
The Fund encourages developers to trial new, more efficient ways of working and allows businesses to bring their innovations to the market faster. New technologies that have benefited from the scheme include exploring safer ways for drones to fly in the same skies as other aircraft, and using realistic-computer generated data to speed up the results of clinical trials, which could in the future allow patients to access new medical treatments faster.
The Regulators’ Pioneer Fund is set to back some of the UK’s most promising growth sectors, most notably AI to support the NHS, engineered biology to improve food security, satellite tech to improve farming and climate tracking, and self-driving vehicles.
Last year, the third round of the funding saw the UK Civil Aviation Authority (CAA) supporting the aviation industry to reduce regulatory challenges on the safe introduction of hydrogen as an aviation fuel at a commercial scale, making progress towards bringing zero-emission flight to the UK. In Milton Keynes, the funding helped local authorities trial drone deliveries for urgent medical supplies, laying the groundwork for a future UK-wide drone economy, which is predicted to be worth up to £45 billion by 2030.
Science minister Lord Vallance said: “Smarter, more agile regulation is key to businesses bringing ideas to the market faster, while giving the public confidence in new technologies.
“These projects show how regulators can work with industry to unlock breakthroughs — from autonomous drones improving emergency services, to AI that cuts the cost and time spent on clinical trials.
“By backing this kind of innovation, we’re helping to make the UK the best place in the world to launch, test and scale new ideas, and drive the economic growth we need to improve lives and deliver our Plan for Change.”
