Sovereign AI fund supports Hassabis startup, Isomorphic

Backing AI innovators, founders and entrepreneurs

Launched in April, the Sovereign AI fund provides grants of £1m up to £9m to fund the creation of strategic AI assets. The programme is initially aimed at high-value AI datasets and autonomous or automated laboratory infrastructure. It is open to UK-registered companies, research organisations, universities and consortia with a credible plan that aligns with the Sovereign AI focus areas. It aims to secure long-term strategic advantage for the UK by growing and anchoring strategically significant AI companies.

Britain has a proud history of world-changing medical breakthroughs. Now, in the AI era, we are backing a brilliant UK firm working on another huge jump forward in science to the benefit of people across the country and around the world

The government’s goal is to shape Britain’s future in the years ahead, using what it calls “strong, homegrown AI capability”. Its strategy is based on backing AI innovators, founders and entrepreneurs to develop new ideas and bring them to market. According to the Department for Science, Innovation and Technology (DSIT), the UK has the third-largest AI market in the world and more AI startups than anywhere else in Europe.

Speaking previously about the Sovereign AI fund, science and technology secretary Liz Kendall said it represents the government’s “bet on Britain”, adding that the UK believes in its entrepreneurs and innovators and is “backing them to seize the benefits of AI for the UK”.

During a speech at the Royal United Services Institute on 28 April, Kendall spoke about the importance of AI to the UK economy and its ability to compete globally. “Today, the defining currency is AI,” she said. “And the countries which harness AI will not only lead the race to cure diseases, discover new materials and create trillion-dollar companies, but also build far more powerful militaries,” she said.

Kendall believes AI is the engine of both economic power and “hard power”.

Funding a giant leap forward in science

Discussing the funding, Sovereign AI head of ventures Joséphine Kant said: “Isomorphic is one of the most consequential companies being built anywhere in the world today, and it’s being built in Britain. Sovereign AI exists to invest in the companies that will shape what this country becomes next. Sir Demis Hassabis, Max Jaderberg, and the team they have built deserve a country willing to match their ambition with its own, and we intend to make sure it does.” 

Commenting on the Isomorphic funding, Kendall said: “Britain has a proud history of world-changing medical breakthroughs – from penicillin to MRI scanners. Now, in the AI era, we are backing a brilliant UK firm working on another huge jump forward in science to the benefit of people across the country and around the world.” 
  
At the time of writing, three companies had received funding through the Sovereign AI Fund. Along with Isomorphic, the government previously announced funding for Ineffable Intelligence, a company that is developing algorithms that learn through experience, and AI infrastructure firm Callosum. A further six companies have been granted access to the AI Research Resource (AIRR) supercomputer network.