Because of its track record in recruiting and supporting top international researchers, the University will get a share of the new £54 million Global Talent Fund, along with 12 of the UK’s leading universities and research institutions.
From AI to medicine, the Fund is designed to attract a total of 60-80 top researchers (both lead researchers and their teams) to the UK, working in the eight high priority sectors critical to the Government’s modern Industrial Strategy.
By bringing the very best minds in fields that will be critical to the future of life and work to the UK, the Government aims to pave the way for the products, jobs and even industries that define tomorrow’s economy, to be made and grow in Britain.
Professor Deborah Prentice, Vice-Chancellor of Cambridge University, said: “The University is grateful for this award of funding. It will bolster emerging and accelerating research areas, in line with the goals of the Government’s Industrial Strategy. This investment will be pivotal in securing and supporting international academic expertise and strengthening the strategic opportunities the University is seeking to catalyse for both the University and the UK more widely. We look forward to the opportunities this will unlock.”
From Argentine – and former Cambridge scientist – César Milstein’s work on antibodies, to Hong Kong-born Sir Charles Kao who led the development of fibre optics, through to the efforts of German Ernst Chain – another former Cambridge scientist – to make penicillin usable in medicine, there is a long pedigree of overseas researchers making great breakthroughs whilst working in the UK.
The Government says that driving new tech innovations and scientific breakthroughs will fire up the UK economy and put rocket boosters on the Government’s Plan for Change. The IMF estimates that breakthroughs in AI alone could boost productivity by as much as 1.5 percentage points a year, which could be worth up to an average £47 billion to the UK each year over a decade. Other technologies could be gamechangers too: quantum computing could add over £11 billion to the UK’s GDP by 2045, while engineering biology could drive anywhere between £1.6-£3.1 trillion in global impact by 2040.
The Global Talent Fund, administered by UKRI, is just one part of over £115 million funding that is being dedicated to attracting the very best scientific and research talent to the UK. Work to cultivate top AI research talent in the UK is further bolstered through the Spärck AI scholarships, founded in partnership with Cambridge, which will provide full funding for master’s degrees at nine leading UK universities specialising in artificial intelligence and STEM subjects.
Science Minister Lord Vallance said: “Genius is not bound by geography. But the UK is one of the few places blessed with the infrastructure, skills base, world-class institutions and international ties needed to incubate brilliant ideas, and turn them into new medicines that save lives, new products that make our lives easier, and even entirely new jobs and industries. Bringing these innovations to life, here in Britain, will be critical to delivering this Government’s Plan for Change.
“My message to the bold and the brave who are advancing new ideas, wherever they are, is: our doors are open to you. We want to work with you, support you, and give you a home where you can make your ideas a reality we all benefit from.”
Chancellor of the Exchequer Rachel Reeves said: “The UK is home to some of the world’s best universities which are vital for attracting international top talent. Supported by our new Global Talent Taskforce, the Global Talent Fund will cement our position as a leading choice for the world’s top researchers to make their home here, supercharging growth and delivering on our Plan for Change.”
Cambridge University has been selected as a partner in a key Government initiative to attract more of the world’s best research talent to the UK.
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