The UK Government have committed to increase investment in research and development (R&D) in the UK to at least 2.4% of GDP by 2027. Delivering this will need significant increases in investment from both public and private sources. UKRI delivers the majority of public funding for research and innovation in the UK. It will play a central role in realising the UK Government’s ambition. This explainer summarises UKRI’s structure, governance and operation to support discussion over how this funding is distributed.