The Government have today, 20th May 2021, opened applications for a £3 million fund that will ‘ensure the UK’s rules and regulations keep pace with innovation.’
The Regulators’ Pioneer Fund is open for applications from regulators and local authorities for funds of up to £200,000.
The fund is designed to help regulators and local authorities to deliver initiatives that will help to keep the UK at the forefront of regulatory thinking and experimentation.
As many regulatory functions are performed at a local level, the Government has expanded the fund to include local authorities for the first time. This is intended to ensure that regulatory innovations can be tested at a local level.
This funding will allow regulators and local authorities to pilot ambitious and experimental regulatory approaches that would not otherwise be possible. These approaches should improve their ability to support innovation.
The competition is now live and receiving applications until 15 July 2021. Find more information here.