New £18 million investment will support innovation and growth in key technologies

New £18 million investment will support innovation and growth in key technologies

06 Apr 2011

Over 150 British companies, further education institutions and other organisations are set to share around £18 million of government investment that will support innovation and growth in a number of important technology areas.

The investments follow the conclusion of a major competition for collaborative research and development funding, managed by the government-backed Technology Strategy Board, with funding awarded to 43 major R&D projects.  The funding awards will be used by innovative businesses and their partners looking to keep the UK at the forefront of modern technology, grow their businesses and enhance quality of life.  

The funding has been awarded across the range of the Board’s six underpinning technology areas - Advanced Materials; Biosciences; Electronics, Photonics and Electrical Systems; High Value Manufacturing; Information and Communication Technology and Nanotechnology. A particular emphasis has been placed on the development of ‘enabling technologies’, which can lead to the creation of other products or processes able to support future development.

Iain Gray, Chief Executive of the Technology Strategy Board, said:

“Through investments such as these the Technology Strategy Board is helping to deliver economic growth and create competitive advantage for the UK in the global marketplace for leading edge technologies.  

This drive by leading British companies to innovate and to overcome significant technical hurdles to develop new technologies, products and processes is inspirational.  We look forward with interest and excitement to seeing the results of these important research and development projects.”

The Technology Strategy Board also announced recently that it would invest £2 million in eighty-five feasibility studies, to be carried out by small and micro companies, in the same six core areas of Technology Inspired Innovation.

For full press release including notes to editors please follow this link

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Last updated on Wednesday 06 April 2011 at 15:51

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