Driving sustainable
economic growth and improving quality of life through innovation
TECHNOLOGY STRATEGY
BOARD News Release issued by The Government News Network on 8 May 2008
- Technology
Strategy Board sets out its strategic plan to make the UK a global
leader in innovation.
- Focus of activity in three areas - challenge-led innovation,
technology-inspired innovation and the innovation climate.
- Together with partners will invest over £1 billion during next
three years, generating a further £1 billion of private sector investment.
- Secretary of State John Denham says the plan "paints a
powerful picture of the direction we need to move in."
The Technology Strategy Board today revealed its three-year
strategic plan and outlined how it will promote and invest in
technology-driven innovation for the benefit of business, to
increase sustainable economic growth and to improve quality of life.
Launching the Board's strategic plan - "Connect and
Catalyse - a strategy for business innovation" Chief
Executive Iain Gray summarised the Technology Strategy
Board's role as "ensuring that the UK is in the
forefront of technology-enabled innovation." He outlined how
the Technology Strategy Board will:
- Provide innovation leadership, promote knowledge exchange,
build networks and invest in new ideas, and
- Stimulate new areas of activity for business and provide a
longer term view of future technology and innovation needs across
the UK economy and globally. Iain Gray explained that the
Technology Strategy Board will, over the next three years, invest
according to three main themes:
- innovation in response to societal and economic challenges;
- innovation inspired by existing and emerging technology, where
the UK leads or could lead, and
- the "innovation climate", or the culture in which
innovation can grow. Annual investment in these areas will be in a
ratio of 50%, 25% and 25% respectively by 2011.
Turning to specific areas of activity, Iain Gray explained that
the Technology Strategy Board will:
- Increase its focus on challenge-led innovation and helping
business find opportunities in societal challenges such as climate
change and the ageing population.
- Double the number of Innovation Platforms (from five to ten),
which take a new cross-cutting approach to these challenges.
- Develop strategies in key market application areas representing
major societal or economic challenges to the UK.
- Develop and implement a strategy to promote the rapid
commercialisation of emerging technologies and industries.
- Double the number of Knowledge Transfer Partnerships, and
increase their flexibility.
- Carry out a strategic review of Knowledge Transfer Networks,
and reinforce and extend their role.
- Pilot a reformed Small Business Research Initiative.
- Work to maximise the positive impact of government procurement
on innovation.
Iain Gray added that, working with the Regional Development
Agencies, Devolved Assemblies and Research Councils, the
Technology Strategy Board will invest over £1 billion in the next
three years to promote and support innovation - and that, given
the organisation's proven ability to obtain matching private
sector investment, this figure will double to over £2 billion.
He also emphasised that the Technology Strategy Board had
listened carefully to business and to partner organisations before
drawing up its strategic plan, and he made clear that the
organisation will:
- Ensure that the support provided is flexible and meets the
needs of business;
- Simplify and streamline delivery of programmes;
- Invest in some areas with a higher level of risk, as part of a
balanced portfolio, and
- Evaluate investments to keep them effective.
Iain Gray said that to underpin the overall strategy the
Technology Strategy Board was developing detailed strategies on
its specific areas of focus. Two of these were also revealed today
- for high value manufacturing and energy generation and supply.
Describing the three-year strategic plan as the Technology
Strategy Board's "roadmap", Iain Gray said that the
organisation "Has already come a long way. We inherited a
strong foundation of successful programmes promoting innovation.
Now we have new vision and ambition. We want to make the UK a
global leader in innovation. That is our destination and this
strategic plan is our roadmap for the coming few years."
Speaking at the launch of the Technology Strategy Board's
strategic plan, Secretary of State for Innovation, Universities
and Skills, John Denham said: "The recent DIUS White Paper
outlined our determination to make the UK an 'Innovation
Nation', and highlighted the key role of the Technology
Strategy Board in achieving this. "Innovation will be the key
to some of the biggest challenges facing our society, like global
warming and sustainable development. We need to ensure that
Britain contributes to the innovative solutions and that British
business and the British people benefit from the new opportunities
and prosperity they create.
"Since its establishment last year the Technology Strategy
Board has been talking to business and partners and has today
painted a powerful picture of the direction we need to move in.
"It is for everyone, business and public sector alike, to
take up the challenge and join us in this important innovation journey".
Notes to Editors
1. Connect and Catalyse - A strategy for business innovation can
be viewed at http://www.innovateuk.org and
is available to download.
2. The strategies for high-value manufacturing and energy
generation and supply are also available at http://www.innovateuk.org.
3. The Technology Strategy Board is a business-led executive
non-departmental public body, established by the government. Its
role is to promote and support research into, and development and
exploitation of, technology and innovation for the benefit of UK
business, in order to increase economic growth and improve the
quality of life. It is sponsored by the Department for Innovation,
Universities and Skills (DIUS). For further information please
visit http://www.innovateuk.org
Issued by
Nick Sheppard
Media Relations
Manager
Technology Strategy Board
Block B, North Star
House
North Star Avenue
Swindon, SN2 1FF