The Advanced Research and Invention Agency (Aria) Bill is making its way through Parliament. Plans for Aria, which is considered the brainchild of former Downing Street staffer Dominic Cummings, were announced in February. Aria is inspired by the Pentagon’s Darpa, which has been instrumental in the development of GPS and the internet.
It aims to pursue R&D in areas of science and technology with the potential to generate ground-breaking discoveries and technologies without the pressures that limit innovation, such as fear of short-term setbacks or rigid funding models. It will be independent from government intervention and supported with £800m in funding for the remainder of this parliament.
The House of Lords has been combing over the Aria Bill, voting on two amendments this week. Most significantly, it has defeated the government on an amendment that would enable Aria to secure an equity interest in any business or project it funds. Supporters...