Investment of £82.5m in innovative technologies
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The Technology Strategy Board has announced an investment of £82.5million in the development of innovative new technologies.
Lord Mandelson, Secretary of State for Business, Innovation & Skills, says the investment is designed to encourage business to engage with the TSB and focus on innovation to stimulate economic growth.
Speaking at the TSB's Innovate09 showcase, Lord Mandelson said: "Between now and next spring, businesses across the UK will be invited to compete for £39.5m of government funding for R&D in fields such as regenerative medicine, transport and logistics, agriculture, infectious diseases and low carbon housing. Driving innovation in these areas where the UK has strength and competitive advantage, will speed our recovery and help deliver a strong economy coming out of the global downturn."
There are also plans for a new 'Innovation Platform' into which the TSB will invest up to £50m over the next five years, along with contributions from Defra and the Biological Sciences Research Council. The programme will bring business, government and academia together to focus on solutions to the challenge of food production and its environmental impact.
