http://www.sciencemag.org/news/2021/02/new-uk-funding-agency-would-tackle-innovative-research

U.K. business secretary Kwasi Kwarteng said this week that a new high-risk U.K. research agency would be located within his department.

The U.K. government has released its plans for emulating the storied high-risk, high-reward U.S. funding agency, the Advanced Research Projects Agency (ARPA). During the 2019 election campaign, the Conservative government promised to set up such an agency, and Prime Minister Boris Johnson’s former adviser Dominic Cummings pushed for it. Now, it has a name: the Advanced Research & Invention Agency (ARIA), and a confirmed budget. Business secretary Kwasi Kwarteng announced today it would be funded by an initial £800 million over 4 years, and would begin to disburse grants by 2022.