The UK government will be investing £21.5 million in graphene research in order to get the wonder material out of a lab and into the real world. The funding will be given to specific universities, and £12 million of the funding is from a previously agreed funding source from 2011, and almost £10 million will be provided by the Engineering and Physical Sciences Research Council (EPSRC). The University of Cambridge will receive more than £12m for research into flexible and opto-electronics, such as touch-screens and other display devices.

Chancellor George Osborne said:

We had to act very quickly… to step in and say we’re going to provide funding here in Britain for that activity. That’s an example of actually actively backing a winner to keep it in the UK.

Other universities will also be receiving funding for smaller projects. All universities will be working with industrial partners such as Nokia, BAE Systems, Procter & Gamble, Qinetiq, Rolls-Royce, Dyson, Sharp and Philips Research, which will together bring in a further £12m in investment