Introduction
The business environment is increasingly conditioned by two factors – the relentless pace of technological development and the globalisation of the world economy which means that customers, competitors, suppliers and collaborators may be located, quite literally, anywhere.  In consequence the requirement for companies to constantly strengthen their capabilities and find innovative ways to satisfy customer demands has never been greater. At the same time society faces numerous challenges, many of which also present an opportunity.

The Government has acted to ensure that the promotion of technology innovation in business is led by business itself. The establishment of a business-led Technology Strategy Board provides business the opportunity to directly influence Government and to work together on common agendas where both Government and business stand to benefit.
To ensure that UK firms remain at the forefront of technology development and exploitation, it is necessary to identify promising new technologies emerging from the country’s research community and to ensure that businesses are able to identify potential commercial applications. However, innovation is often the response to an immediate challenge or problem and, as such, it requires the successful integration of a combination of proven technologies or elements to provide a solution.
In taking forward the development of a national technology strategy, the Technology Strategy Board are focusing on wealth creation and driving forward business investment in R&D.  The Board have adopted a twin pronged approach, namely the development of: 

• key emerging technologies which will underpin the high value-added areas of the UK economy and generate new streams of economic activity in their own right; 

• ‘innovation platforms’, where the integration of a range of technologies and the better coordination of policy and procurement instruments will result in a step change in UK performance. 

The Board believe that such innovation platforms can become a powerful mechanism for promoting innovation on the part of Government Departments and in the delivery of public services.  Government Departments/Agencies, Research Councils, regional organisations, business and the science base must work together to identify and apply a diverse range of technologies (and other policy levers e.g. standards and regulation) to deliver innovative new products and services for which there are real customers in a potentially global market. This will give the procurement arm of Government Departments the confidence to adopt new technologies and more innovative approaches in delivering their policy objectives.

Technology Strategy Board Annual Report
In the 10-year Science and Innovation Investment Framework the TSB was charged with producing an annual report on its own activities and support for innovation across government, including, for example, co-ordination with Government Departments, the Research Councils and Regional Development Agencies and Devolved Administrations. Further details are given in the terms of reference for the Board.
 
The first Annual Report of the Technology Strategy Board (published 24 November 2005) provides information on the work of the Board and plans for future activities, including the ongoing development of the Technology Strategy.

The Board have also published 'A call to action' - a short document designed to engage business and other partners in developing the Strategy.