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£400m of technology industry funding set out

£400m is available to innovate technology companies, the Science Minister David Willetts will confirm today.

Mr Willetts will set out the 2013-14 Delivery Plan for the Technology Strategy Board and the funding for renewable energy; “future cities”; advanced materials; satellites; digital technologies; and healthcare sectors.

The funding will be disseminated through competitions and the innovation vouchers scheme.

The plan includes up to £37m for the Connected Digital Economy Catapult, aimed at exploiting data and building new digital models. Space Applications also factor in the plan, including a focus on satellite data and satellite systems.

Up to £35m will be available for business-led projects in the energy sector, with particular focus on the challenges of sustainability, security and affordability.

The Science Minister said: “The UK has some of the most innovative business in the world. The £440 million budget means that there will be more funding available than ever before for businesses across the country to bid for and help turn their ideas into reality – bridging the so called ‘valley of death.’

“The Technology Strategy Board is making a real difference in driving growth and keeping the UK at the forefront of the global race for innovation. Over 60 per cent of funding is going to small and medium sized businesses, meaning that there are great opportunities for businesses to thrive, grow and generate jobs.”

View the Technology Strategy Board’s Delivery Plan here.

This was posted in Bdaily's Members' News section by Tom Keighley .