Mexico is getting $7.3 million from the British government this year for stimulating research activities in the science and technology sector. The money will be donated by the Newton Fund.
The news comes barely weeks after a drone developed by a Mexican research team, funded by the Newton Fund, won second place in a scientific competition held in China.
The primary goal of the Newton Fund is to support scientific projects aimed at tackling common challenges that hamper economic development and social welfare in developing countries. Mexican institutions that utilize the money need to make an investment equivalent to that of the fund.
Already, the two countries are cooperating on several research programs focused on clean energy, sustainable cities, and cities of the future. Analysts say Mexico will utilize the fund for scientific inventions in addition to promoting the use of digital technology in the financial sector and developing talent pool.
The British government has funded fellowships for 182 Mexicans so far in 2016. Another 100 Mexicans are likely to get scholarships this year. Interestingly, Mexico is the third largest recipient of Newton Fund after China and India.
The Newton Fund encourages developing countries to develop innovative solutions by making the most of the knowledge and technology available to them. Reducing air pollution and mitigating the damages caused by climate change top its agenda.
Earlier in September 2016, the Newton Fund granted money for finding solutions for child obesity epidemic in Mexico.