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NCUB wants global collaboration fund at spending review

Meanwhile, BioIndustry Association urges Treasury to boost funding for Innovate UK and Biomedical Catalyst

The government has been urged to use the upcoming Comprehensive Spending Review to help increase business R&D investment, through initiatives such as a new Global Collaboration Fund and an R&D Strategy on foreign direct investment.

In its submission to the Treasury, the National Centre for Universities and Business estimates that businesses would need to increase their annual R&D expenditure by £1.95 billion per year for the government to meet its target for overall UK R&D spending to reach 2.4 per cent of GDP by 2027.

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