A £12 million funding pot that aims to ensure the UK’s rules and regulations keep pace with innovation has opened for applications.

The Regulators’ Pioneer Fund aims to keep the UK at the forefront of regulatory thinking and experimentation. The Fund will support projects led by regulators which aim to help create a UK regulatory environment that encourages business innovation and investment.

There is a total budget of £12 million available to fund projects that help businesses bring innovative products and services to market. Individual projects can apply for up to £1 million in grant funding.

The types of proposals being encouraged are for:

• Projects that harness new thinking, new methods and/or new technological approaches in order to improve regulatory delivery and performance, benefitting innovators and businesses.
• Short research and development projects that generate new learning.
• A short trial or pilot study of a new initiative to change a regulatory approach that can enhance support for innovators or businesses.
• Two-part projects (12-18 months) that start with a short R&D project, trial or pilot study, followed by systematic review and implementation of a regulatory change that supports innovators or businesses.

Eligible applicants are bodies that perform regulatory functions in Scotland, Wales, Northern Ireland, England or across the UK.

The deadline for applications is 29 September 2022 (12:00 BST).

How To Apply

The competition opened on 21 July 2022 and closes on 29 September 2022 (12:00 BST).

Those requiring further information should contact [email protected]

More details can be accessed on the GOV UK website.