UK government confirms funding for new National Innovation Centre for Data

The National Innovation Centre for Data (NICD) will receive £15 million of investment from the government and a further £15m in funding from Newcastle University and enable businesses and academics to collaborate on big data initiatives, according to a government statement.

"The centre will have a programme of projects where academics and industry can share and develop their data skills to solve challenges – for example, industry wanting advice on how to develop the data analysis skills to predict when a machine may stop working to prevent costly breakdowns," the government said.

It said the NICD will "create a pipeline of talent to power the ground-breaking businesses of tomorrow".

Professor Nick Wright of Newcastle University said: "NICD will help to address the data skills gap by taking a practical hands-on approach. We will work with organisations on their domain related problems, transferring the skills into the organisation that will enable them to innovate through data."

The government said research has found that businesses can gain a 10% boost in productivity by engaging in data science, and that the effective use of data makes firms 40% more likely to launch new products and services ahead of their competitors.

"We’re determined to unlock the huge potential of big data which could add billions of pounds to our economy – from powering price comparison sites to improving the flow of transport around cities," the UK's digital minister Matt Hancock said.

"Our new National Innovation Centre for Data will help us achieve this aim by making sure the skills and talent in our universities is being transferred into industry and the public sector. It will not only spark innovation among the next generation of tech experts but also help businesses across the whole country capitalise on the immense value of data," he said.