Defence Secretary Michael Fallon MP has launched a new Innovation Initiative backed by £800M of UK Government funding.
Aimed at transforming the Ministry of Defence’s creative culture, the Innovation Initiative will fundamentally change the way defence does business. The initiative will challenge government to collaborate better with industry, academia and allies, and target new providers to boost the competitive advantage of UK defence and find answers to the nation’s most pressing national security questions from across sectors at pace.
An Innovation and Research Insights Unit (IRIS) will anticipate emerging trends in technology and analyse the implications for UK defence and security, informing critical decisions to maintain military advantage and protect the UK.
The best and brightest individuals and companies will be invited to pitch to a ‘Dragon’s Den’ style panel, backed by a fund of around £800M over ten years. It will involve taking more risks in backing ideas, with a fast-track for truly novel ideas to match the pace of smaller firms.
Once strategy and investment decisions have been taken, a dedicated hub will act as a ‘defence and security accelerator’, ensuring that innovative solutions to the most pressing national security challenges are developed at pace to stay ahead of adversaries.
The full launch event for the initiative in September will feature a prospectus and exhibitions and explain how and when industry can apply to the Innovation Fund.
Mr Fallon said: “This new approach will help to keep Britain safe while supporting our economy, with our brightest brains keeping us ahead of our adversaries. Backed by a defence budget that will rise every year until the end of the decade, it will ensure that the UK maintains its military advantage in an increasingly dangerous world.”
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Defence Innovation Innovation & Technology IRIS Michael Fallon MOD UK
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