The Technology
Strategy Board (TSB) - the UK’s innovation agency - has today (1 July
2014) published its blueprint for growth, which outlines investments of over
£400 million in British innovation.
The 2014-15 Delivery Plan sets out the Board’s priorities for
accelerating innovation across the UK. It outlines an ambitious plan for
developing and nurturing the very best of British entrepreneurial
talent.
Through 88 new competitions, designed to find and fund
top innovative ideas, key investment areas 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
Amongst the funding announcements today, are the launch
of 2 new Catapult Centres - in precision medicine and energy systems - and the
establishment of a permanent presence in Brussels to champion 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
enterprises through Smart, The Small Business Research Initiative (SBRI) and
other programmes.
The
Technology Strategy Board 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 Technology Strategy Board, Iain Gray,
said:
The
2014-15 Delivery Plan raises the Technology Strategy Board’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
help match top innovators with possible investors there will also be a new
online platform, developed in partnership with the British Business Bank and
the UK Business Angels Association. This will showcase innovative companies to
potential investors.
A
further partnership - with the International Property Office and UK Trade and
Investment will help small businesses access intellectual property and export
advice.
Notes to editors:
- The
Technology Strategy Board Delivery Plan can be found at Financial Year 2014-15
- The
Technology Strategy Board is the UK’s innovation agency. Its goal is to
accelerate economic growth by stimulating and supporting business-led
innovation. Sponsored by the Department for Business, Innovation and Skills
(BIS), the Technology Strategy Board brings together business, research and the
public sector, supporting and accelerating the development of innovative
products and services to meet market needs, tackle major societal challenges
and help build the future economy. For more information see www.innovateuk.org.
- Catapult Centres: Now
7-strong, the Technology Strategy Board’s network of Catapult Centres are
already playing a key role in commercialising ‘high potential’
ideas. This year will see the establishment of two new Catapult centres -
focussing on energy systems and precision medicine.
- Industrial
Strategy gives impetus to the plan for growth by providing businesses,
investors and the public with clarity about the long-term direction in which
the government wants the economy to travel. The first achievements and future
priorities of the industrial strategy have been published and can be found
at Industrial strategy: early successes and future
priorities.
- For
more information, contact Rod Alexander in the Technology Strategy Board Media
Relations Team. Email: rod.alexander@tsb.gov.uk tel: 07500 051101 For the latest news
on everything happening at the Technology Strategy Board, follow us on
Twitter @TSBpressoffice