The Autumn Statement (para 3.31) confirmed that additional funding for science and research of £100 million will be provided until 2020-21 to incentivise university collaboration in tech transfer and in working with business. This will support universities working together across England on the commercialisation of research, with the devolved administrations receiving funding through the Barnett formula in the usual way. The funding for England will be allocated by Higher Education Funding Council for England (HEFCE). We are working with HEFCE on options to support these activities. Funding will be allocated through competitive processes and mechanisms, complementing and building on established Higher Education Innovation Funding (HEIF) mechanisms.