The Railway Industry Association (RIA) says industry and Government must do more to maximise the benefits of research and development and innovation in the rail sector. It claims that Network Rail’s £245 million of R&D funding from 2019 to 2024 could create up to £1.6 billion in added value over 20 years.
Its Railway Innovation Strategy, launched at its annual Innovation Conference on 26 April, sets out six calls to action for the rail industry and Government, and makes a further five recommendations for the nascent Great British Railways.
Its first ask is to increase Government investment in rail research, development and innovation, building rail into national innovation strategies, and seeking opportunities to incorporate private match funding. ‘Efficiencies gained through the successful uptake of innovation will ultimately save the taxpayer money while also improving customer experience,’ it argues.
The second i…
