UK ‘invention agency’ grants £50m of public money to US tech and venture capital firms
The UK's Advanced Research and Invention Agency (Aria), created to fund high-risk scientific projects, has allocated £50m of public funds to US tech companies and venture capital firms. Critics question whether the spending benefits the UK, as more than an eighth of Aria’s £400m budget has gone to foreign entities with unclear returns. Aria defends the expenditures, stating that over 80% of its funding supports UK-based teams and that international grants include contractual safeguards to ensure UK benefits.
- ▪Aria has spent £23m on nine US tech firms and £29.4m on three US venture capital groups.
- ▪Rain Neuromorphics, a US company backed by OpenAI’s Sam Altman, received Aria funding despite reports of financial instability.
- ▪Pillar VC and Renaissance Philanthropy incorporated in the UK just before receiving £10.9m and £13.3m, respectively.
- ▪Normal Computing established a UK presence weeks before receiving £6m, which Aria says was a contractual requirement.
- ▪CIC Venture Cafe Global Institute received £5.4m to run 'venture cafes' in the UK, and Fifty Years will receive £7m to run startup training courses.
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Dominic Cummings on his way to a science and technology committee hearing in March 2021 to discuss plans to set up Aria. Photograph: Hollie Adams/Getty ImagesView image in fullscreenDominic Cummings on his way to a science and technology committee hearing in March 2021 to discuss plans to set up Aria. Photograph: Hollie Adams/Getty ImagesResearch and developmentUK ‘invention agency’ grants £50m of public money to US tech and venture capital firmsExclusive: Brainchild of Dominic Cummings, Aria is aimed at funding ‘crazy’ scientific projects to benefit the UKAisha Down, Lucas Amin and HennyGe WichersSun 3 May 2026 05.00 EDTSharePrefer the Guardian on GoogleBritain’s “invention agency” has pledged £50m of UK taxpayer money to US tech companies and venture capital projects.Dreamed up by…
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