The fourth round of the Regulators’ Pioneer Fund is open to regulators and local authorities across the UK, with £5.5 million available in total to support pioneering projects, such as those in medicine and healthcare.

A successful project supported by the third round of the fund used realistic, computer-generated data to help speed up results of clinical trials at the Medicines and Healthcare products Regulatory Agency (MHRA) by using computer-generated at a to replace some of the participants who would usually receive a placebo. This made trials quicker, cheaper and more inclusive, while still ensuring safety and effectiveness, meaning that patients could benefit from quicker access to new treatments.

Additionally, in Milton Keynes, funding to help local authorities trial drone deliveries for urgent medical supplies and environmental monitoring, including using sensors to track the drones’ path to safely test and approve these services. This will allow emergency responders and healthcare providers receive the supplies they need faster, without the need for causing emissions and traffic congestion. This project is set to be worth up to £45 billion by 2030.

Science minister Lord Vallance said: “Smarter more agile regulation is key to businesses bringing ideas to market faster, while giving the public confidence in new technologies.

“These projects how regulators can work with industry to unlock breakthroughs — from autonomous drones improving emergency services, to AI that cuts the cost and time spend on clinical trials.

“By backing this kind of innovation, we’re helping to make the UK the best place in terms of world to launch, test and scale new ideas, and drive the economic growth we need to improve lives and deliver our Plan for Change.”

The Regulators’ Pioneer Fund (RPF4) opens for bids on Thursday 22nd May.