£400m growth fund set to boost British innovation

The innovation agency says it wants to develop and nurture the very best of British entrepreneurial talent. Key investment areas include energy (£82m), digital technologies (£42m), high value manufacturing (£72m), healthcare (£80m) and transport (£70m). Small businesses remain a key focus for the TSB and as such it plans to introduce a new UK wide business growth programme for SMEs. This, it says, will provide them with a package of skills, mentoring and coaching support – enabling them to progress, attract potential investors and grow their business. TSB chief Iain Gray commented: "The 2014/15 delivery plan raises the TSB'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. A further partnership with the International Property Office and UK Trade and Investment will help small businesses access IP and export advice.