Chancellor of the Exchequer George Osborne has launched a £375 million fund to promote economic development though science and innovation at the University of Sao Paulo on the final day of his visit to Brazil.

The newly named Newton Fund, will improve the science and research capabilities of emerging powers and strengthen ties with Britain. The £375 million fund will allow the UK to use its strengths in scientific research to promote economic development and welfare in emerging economies while building long-term collaborations with countries that will produce leading innovations in the future.

Professor John McCarthy, Head of School of Life Sciences, and Sarah Patrick, International Office, were representing Warwick at the Chancellor's launch event at the University of Sao Paulo. Warwick was the only UK university represented at the event.

The fund will lay the foundation for ongoing collaboration between the partner countries and the UK, promoting the UK as an international partner of choice and seeking opportunities for commercial collaboration as we work towards sustainable global growth. The Chancellor made the announcement at the ceremony to sign the first match funding agreement with a Brazilian partner. The Association of State Funding Agencies has committed £3 million pounds a year for 3 years matched by the Newton Fund.

Further information

Find out more about the Newton Fund and the Chancellor's visit to Brazil.

The current call for applications to the Brazil Partnership Fund is open for applications until 3 June 2014. If you would like any further information, please contact Alison Durham in the International Office (A dot F dot Durham at warwick dot ac dot uk, ext 74336)