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<p>This Government is building a globally competitive sustainable plastics industry
through research and innovation. We have already allocated 95% of the funding available
through the £20m Plastics Research and Innovation Fund. This includes £8m on academic
research, £6m on collaborative R&D, £3m on an Investor Partnership with Sky Ocean
Ventures and almost £2m on a Circular Plastics flagship programme with WRAP (Waste
and Resources Action Plan). WRAP is also administering a number of grant opportunities
on behalf of the Department for Environment, Food and Rural Affairs.</p><p> </p><p>As
confirmed in July, BEIS will also provide up to £60 million, bolstered by an expected
£149m investment from the private sector, to establish the UK as the world’s leading
innovator in smart sustainable plastic packaging, through the Industrial Strategy
Challenge Fund.</p>
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