Boosting UK's world-leading innovation
4 Jul 2014 10:28 AM
£400 million
investment into British innovation includes a series of measures to fund and
find top innovative ideas
The Technology Strategy Board
(TSB) has published its 2014-15 Delivery Plan. It outlines an ambitious plan for developing
and nurturing the very best of British entrepreneurial talent.
88 new competitions, designed to
find and fund top innovative ideas, include:
- £82 million to
energy
- £80 million will go to
programmes in the healthcare sector
- £72 million to support
initiatives in high value manufacturing
- £70 million to
transport
- £42 million for digital
technologies
Also announced, are the launch
of two new Catapult
Centres in precision medicine and energy systems and the creation of a
permanent presence in Brussels to promote British innovation
abroad.
Universities and Science
Minister David Willetts said:
We are global leaders in
innovation and the Technology Strategy Board plays a crucial role in
maintaining this, ensuring that great British ideas can be transformed into
great British products.
Innovation is booming in this
country, and it is part of our long term economic plan to invest in ambitious
entrepreneurs and businesses, to help them grow and succeed in the global
race.
Small
businesses remain a key focus for the TSB and along with
continued strong support for small and medium businesses through Smart, The
Small Business Research Initiative (SBRI) and other
programmes,
The TSB will introduce
a new, UK-wide, small
and medium-sized business growth programme, providing a package of skills,
mentoring and coaching support, giving micro and small companies the capability
to progress, attract potential investors and grow their
businesses.
The Chief Executive of
the TSB, Iain Gray, said:
The 2014 to 2015 Delivery Plan
raises the TSB’s ambitions to a higher level, enhancing support
for UK companies through a range of targeted programmes, opening up lucrative
pathways into Europe and expanding facilities and opportunities for businesses
to collaborate and innovate still further.
To bring together top innovators
with possible investors there will also be a new online platform, developed in
partnership with the British
Business Bankand the UK Business Angels
Association. This will showcase innovative companies to potential
investors.
*[SBRI] Small Business Research
Initiative