"Cecilia Rikap, an economics professor at University College London, stated that disguised as promoting moonshot projects, the government is using taxpayer money to further expand the power of the US tech ecosystem."
"Chi Onwurah, chair of the Commons science and technology committee, emphasized that reports on Aria's spending underline the need for stronger scrutiny of the organization."
"The Aria Act requires the organization to benefit the UK by driving economic growth, supporting scientific innovation or improving quality of life, yet it remains unclear how funding US-based firms meets these aims."
The Advanced Research and Invention Agency (Aria) has allocated £50 million of UK taxpayer money to US tech companies and venture capital projects. Over an eighth of its £400 million funding in two years has gone to 14 US firms, raising questions about the benefits to the UK. Critics argue that this funding expands the US tech ecosystem without clear returns. The Aria Act mandates that funding should drive economic growth and innovation in the UK, but the alignment with these goals is unclear.
#uk-funding #us-tech-companies #advanced-research-and-invention-agency #taxpayer-money #scientific-innovation
Read at www.theguardian.com
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