New Government Funding will Stimulate Growth-creating Innovations

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Businesses from across the country are being invited to compete for a share of nearly £18 million of new government funding to develop technological innovations that may create growth for the UK. The Technology Strategy Board together with Scottish Enterprise will seek proposals for business-focussed research and development projects in a broad range of technology areas - Advanced Materials; Biosciences; Electronics, Photonics & Electrical Systems; Information & Communications Technology and Nanoscale Technologies.

Businesses from across the country are being invited to compete for a share of nearly £18 million of new government funding to develop technological innovations that may create growth for the UK.

The Technology Strategy Board (http://www.innovateuk.org), together with Scottish Enterprise (http://www.scottish-enterprise.com), will seek proposals for business-focussed research and development projects in a broad range of technology areas - Advanced Materials; Biosciences; Electronics, Photonics & Electrical Systems; Information & Communications Technology and Nanoscale Technologies.

David Bott, Director of Innovation Programmes at the Technology Strategy Board, said:
    “We are particularly keen to encourage innovation in new technologies that can lead to the creation of other products and processes which support future development across different application areas. We would also be interested in proposals that take a known technology into new application areas, where significant technical challenges need to be overcome.

    “Innovation in these technology areas could be applied across a range of areas – such as in healthcare, transport, food, environmental sustainability and construction – and would help stimulate economic growth. We need to create and develop such new technologies in order to     make innovation happen and provide solutions to challenges in these important application areas.

Jan Reid, head of Scottish Enterprise's Enabling Technologies & Advanced Engineering team, commented: "The application and adoption of new technologies will aid our economic recovery and growth. Scotland has the company expertise and academic excellence that we need to translate these technologies into real world business innovations. I would encourage all businesses to think about this call for ideas and how they can exploit this opportunity for growth.

The new funding will complement the Technology Strategy Board’s wide range of ‘challenge-led’ investments, which are designed to help address society’s most pressing needs in areas such as health, energy and low carbon.

The Technology Strategy Board has allocated up to £15 million to fund collaborative R&D projects and Scottish Enterprise will provide up to £2.75 million of additional funding. The competition opens for proposals on 31 October 2011 and expressions of interest must be submitted by 7 December 2011. For further information please visit: http://www.innovateuk.org/content/competition/technology-inspired-innovation.ashx.

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Nick Sheppard
Technology Strategy Board
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