Applications to UK Research and Innovation rose from 16,355 in 2017-18 to 29,927 in 2024-25, an increase of more than 80%, while annual awards rose only 3% to 5,667. A large applications spike occurred in 2020-21, with awards showing a smaller, transient increase. Innovate UK accounts for over 56% of assessed applications and had a 14% award rate in 2024-25. Overall award rates, including fellowships and training, fell from 36% to 19% between 2017-18 and 2024-25, while the total number of active awards stayed around 21,000. Grant value rose from about £3 billion to over £6 billion before falling to £4.5 billion this year.
The UKRI data, published last month, show that between 2017-18 and 2024-25, the number of applications to the national funding agency increased from 16,355 to 29,927. Meanwhile, the number of awards granted per year increased by only 3% over the same period, to 5,667 in 2024-25 (see 'Diminishing returns'). A substantial bump in applications was seen in 2020-21, the first year of the COVID-19 pandemic, and a similar, but smaller, bump was seen in awards, which levelled out over the following years.
Overall, the proportion of awards granted per year - including research and innovation, fellowships and training grants - fell from 36% in 2017-18 to 19% in 2024-25, the lowest in the decade. The total number of active awards has remained fairly stable, and is now around 21,000.
Despite the stagnation in the number of awards, the value of UKRI grants steadily increased from around £3 billion (US$4 billion) to more than £6 billion between 2015-16 and 2023-24, before falling to £4.5 billion this financial year.
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