Government invests £200m in technology centres for growth

Government invests £200m in technology centres for growth

25 Oct 2010

The Prime Minister David Cameron has announced that over £200m will be invested in a network of elite Technology and Innovation Centres, to be established and overseen by the Technology Strategy Board.

We have already seen in the UK and overseas the beneficial effects of centres of excellence which create a critical mass for business and research innovation in a specific area and sector.

These centres will be an important part of the UK's innovation system. They will complement and link with other work which the Technology Strategy Board already manages to promote collaboration between universities and business, driving innovation and the commercialisation of new technology and ideas. Examples include the Knowledge Transfer Networks, national networks where business and researchers can share ideas and opportunities, and Knowledge Transfer Partnerships which place graduates in business to work on innovative projects.

This new investment in centres will further bridge the gap between universities and businesses, helping to commercialise the outputs of Britain's world-class research base.

Each centre will focus on a specific technology where there is a potentially large global market and a significant UK capability. The centres will allow businesses to access equipment and expertise that would otherwise be out of reach as well as conducting their own in-house R&D.  They will also help businesses access new funding streams and point them towards the potential of emerging technologies.

Working with industry and government, the Technology Strategy Board will develop a strategy and implementation plan for the elite network of centres by April 2011.

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Last updated on Monday 25 October 2010 at 17:10

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