The launch of UK Defence Innovation (UKDI), a fund under the MoD, had been previously announced by the government on 3 March. But the spring statement added new details, including that the fund will have “a ringfenced budget of £400m from next month, which will increase in future years”.
https://commonslibrary.parliament.uk/uk-to-spend-2-5-of-gross-domestic-product-on-defence-by-2027