Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, whether he has made an assessment of the potential merits of reviewing the timelines for grant disbursement to ensure that AI startups have the cash flow they need to grow.

The Government is committed to building an AI sector that can scale and win globally The AI Action Plan sets out how we will support the growth ambitions of businesses across the AI sector.

Innovate UK awards the majority of DSIT’s business-facing R&D grants. Between 2022 and 2025 Innovate UK have achieved a 37.6% improvement on the time taken between grant competition close and grant offer letter approval. The point from which funding competitions close to applicants being notified of a funding decision has reduced from more than 62 days, to around 46 days on average, with Innovate UK continuing to explore how it can deliver further improvements.