The Department for Science, Innovation and Technology has launched a unit dedicated to reducing the burden of red tape for new technology, potentially generating tens of billions of pounds for the UK economy over the coming years.
Setting up the Regulatory Innovation Office was a manifesto pledge from Labour during this year's general election. The party's manifesto said the new office would bring together existing functions across government and help regulators "update regulation, speed up approval timelines, and co-ordinate issues that span existing boundaries".
The office will incorporate the existing functions of the Regulatory Horizons Council and the Regulators’ Pioneer Fund.
DSIT said the office would initially support four fast-growing areas of technology. They are: engineering biology, such as pest-resistant crops and cultivated meat; the space industry; artificial intelligence and other digital advances in healthcare; and connected and autonomous technology – such as drones.
In the case of engineering biology, DSIT said the Regulatory Innovation Office would help regulators bring products to market safely and more quickly, "realising the environmental and health benefits they can bring to our lives".
The department said RIO would work closely with the Department for Transport, the Department of Health and Social Care, and the Department for Environment Food and Rural Affairs to address regulatory barriers in the initial growth areas.
Science and technology secretary Peter Kyle said the launch of RIO was a "big step forward" in getting promising new technologies to market faster yet safely, kickstarting economic growth in the process.
"By speeding up approvals, providing regulatory certainty and reducing unnecessary delays, we’re curbing the burden of red tape so businesses and our public services can innovate and grow, which means more jobs, a stronger economy, and a better quality of life for people across the UK," he said.
"From breakthroughs that could help doctors diagnose illnesses earlier to satellite navigation for more accurate weather forecasting and getting emergency supplies to where they are needed, quickly and effectively, RIO will make sure UK companies are at the forefront of the next generation of technologies."
Neil Ross, associate director for policy at trade association techUK, said that despite being home to an "amazing array" of innovation, the UK had historically been slow to deploy new technologies at pace and scale.
"By smoothing the path to deployment of new technologies, the RIO can open the door to significant applications both in the commercial sphere and for public services," he said.
"If we get this right this could unleash billions of pounds of additional investment."
Ross said success would require RIO to work closely with the private sector to identify the most promising opportunities, move quickly to deliver tangible results, and seek new opportunities on a rolling basis.
DSIT has launched a recruitment campaign to find "an ambitious, visionary leader" to serve as the first chair for RIO.
The candidate pack for the role says the appointment will be for an initial two-year term and is expected to involve four-to-five days of work a month. It says remuneration will be "discussed with the successful candidate".
The post is open to applications until 11:55pm on November 19.