The office has been created to help reduce the burden for businesses looking to bring new products and services to market, the Department for Science, Innovation and Technology (DSIT) said.
The Government said the new office will support regulators in updating regulation, as well as helping speed up approvals for new tech and help different regulatory bodies work together smoothly.
It said the office could help new technologies such as AI for better treatments in the NHS and drones delivering emergency supplies could reach the public faster with the new office in place.
The RIO will also liaise with the Government on how to remove barriers to innovation and set priorities for regulators and support them as part of wider goals to grow the economy.
The search for a chair to lead the new office is now under way, the Government confirmed.
Science and Technology Secretary Peter Kyle said: “The launch of the Regulatory Innovation Office, a key manifesto commitment, is a big step forward in bringing the UK’s most promising new technologies to the public faster and safely while kickstarting economic growth.
“By speeding up approvals, providing regulatory certainty and reducing unnecessary delays, we’re curbing the burden of red tape so businesses and our public services can innovate and grow, which means more jobs, a stronger economy, and a better quality of life for people across the UK.
“From breakthroughs that could help doctors diagnose illnesses earlier to satellite navigation for more accurate weather forecasting and getting emergency supplies to where they are needed, quickly and effectively, RIO will make sure UK companies are at the forefront of the next generation of technologies.”
The DSIT said the office will initially focus on four fast-growing areas of technology – engineering biology, space, artificial intelligence and digital in healthcare, and connected and autonomous technology.