The Department for Business and Trade (DBT) has opened its new AI Future Grants scheme for applications
The scheme will provide funding to help the next generation of artificial intelligence (AI) leaders meet the costs of relocating to the UK.
Eligible organisations can apply for funding up to £100,000, with a maximum award of £10,000 for each international hire. There is a total pot of £1 million to distribute within the financial year 2024/25.
Eligible organisations
The AI Futures Grants competition is open to universities, research institutes and small and medium-sized businesses (SMEs) across all sectors that are:
- driving AI innovation in the UK responsibly
- planning to hire at least one early to mid-career AI researcher or engineer with exceptional promise who will start their job between April 2024 and March 2025 on a contract lasting at least one year
- looking to enhance their ability to attract international AI talent with exceptional promise
- willing to develop the AI/machine learning and leadership skills of those they hire
- committed to ensuring that international hires settle in the UK
Eligible roles must primarily involve the development, application or governance of artificial intelligence, with AI defined broadly as “machines that perform tasks normally performed by human intelligence, especially when the machines learn from data how to do those tasks.”
Eligible costs
The grants are designed to help address the costs of relocating to the UK for AI talent with exceptional promise.
The funding will reimburse successful applicant organisations for eligible costs including:
- costs of visas (including for their partner/dependents)
- immigration health surcharge (including for their partner/dependents)
- travelling and subsistence
- transporting belongings
- disposal of old residence and acquisition of new residence
- domestic goods for new residence
A full list of eligible costs will be set out in grant agreements.
How to apply
You can apply online via the government’s Find a Grant portal.
You will have to provide details of hiring plans for roles likely to attract early to mid-career AI talent with exceptional promise, an estimate of the number of international hires, and a total requested grant amount.
The deadline for applications to the AI Future Grants scheme is 19 March 2024.
If successful, will be expected to hire talented individuals within the financial year 2024/25. The DBT will reimburse eligible organisations for eligible costs in arrears.
Find out more about the AI Future Grants scheme
Source: nibusinessinfo
