The Chancellor of the Exchequer’s Autumn Statement to Parliament has confirmed long-term support for the Catapult Network.
The support, welcomed by Medicines Discovery Catapult (MDC), recognises the ongoing national impact of the Catapult Network on the UK innovation economy.
The Catapult Network brings together nine leading technology and innovation centres – including MDC. Catapults are independent not-for-profit private organisations transforming the UK’s capability for innovation in sectors of strength.
By bridging the gap between research and industry, the Catapult Network is helping tackle the biggest challenges that society and industries face today. The multi-sector innovation fostered by the Catapults will help the UK to remain globally competitive whilst navigating troubled economic times.
MDC, as the national innovation centre for drug discovery, transforms great UK science into better treatments through partnership, reshaping drug discovery for patient benefit. The support confirmed in the Autumn Statement bestows MDC, and the Catapult Network, with the continued and ever more pertinent responsibility of delivering impact for UK companies.
Professor Chris Molloy, CEO of Medicines Discovery Catapult, said:
“We welcome the Government’s ongoing support of Medicines Discovery Catapult and the Catapult Network in the Autumn Statement. At these tough and fiscally challenging times – as during the COVID-19 pandemic – everyone at Medicines Discovery Catapult feels the responsibility to continue driving and delivering innovation with our sector, for our sector and the benefit of the nation.”
View the Autumn Statement 2022 here.
Find out more about the impact of the Catapult Network here.