The new IAAPS facility has been funded by the University of Bath, the UK Research Partnership Investment Fund and the West of England Local Enterprise Partnership through the Local Growth Fund, administered by the West of England Combined Authority.
The University of Bath has invested £30 million in the new IAAPS research and innovation facility.
The UK Research Partnership Investment Fund has committed £28.9 million to enable construction of the £70m IAAPS facility.
Research England is a public body that shapes healthy, dynamic research and knowledge exchange in universities. It distributes over £2.2bn every year to universities, primarily in England but also in the rest of the UK; it works to understand their strategies, capabilities and capacity; and it supports and challenges universities to create new knowledge, strengthen the economy, and enrich society. Research England is part of UK Research and Innovation alongside the seven Research Councils and Innovate UK.
Research England administers the UK Research Partnership Investment Fund (UKRPIF), a capital investment scheme which provides funding for higher education research facilities. Since 2012, UKRPIF has allocated £900 million to 54 research facilities and centres and attracted over £2 billion of double-matched co-investment from more than 240 businesses, charities and philanthropic donors.
The aims of the fund are to:
1. Enhance the research facilities of HEIs undertaking world-leading research
2. Encourage strategic partnerships between HEIs and with other organisations active in research
3. Stimulate additional investment in university research
4. Strengthen the contribution of the research base to economic growth.
Local Enterprise Partnerships are playing a vital role in driving forward economic growth.
£10 million has been allocated to IAAPS by the West of England Local Enterprise Partnership through the Local Growth Fund, administered by the West of England Combined Authority.