Delivered in partnership with Innovate UK, the competition will back new technologies aimed at modernising Britain’s railways ahead of the creation of Great British Railways.
Entrepreneurs, start-ups and scale-ups across the UK are set to benefit from a new Government-backed investment package.
Lord Ian Vallance said there were too many UK companies working in areas like AI, biotechnology and quantum that UK investors were not supporting enough.
The initiative has been designed to help individuals from diverse backgrounds establish themselves in the venture capital sector and grow the next generation of UK businesses.
Joanne Segars OBE said: “Investing in affordable housing presents an opportunity to generate strong financial returns for our members."
The investment includes the construction of four new fulfilment centres, with confirmed sites in Hull, Northampton, and the East Midlands.
The funding round was led by Ada Ventures, with participation from Active Partners and Portfolio Ventures.
Any schemes that fall short will have to merge, with ministers claiming bigger funds could add £6,000 to the average pension at retirement.
The investment will facilitate the opening of 500 new restaurants, focusing on key locations such as Ireland and the North West of England.
The deal is part of Royal London’s plan to grow its private assets business and give pension customers more investment choices.
Anita Friend said: “The Defence and Security Accelerator (DASA) is proud to be a key enabler for innovation."
The dairy giant has received planning approval from Shropshire Council to significantly expand its operations at the site.