Government puts up £80m for R&D

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Manufacturing News, Source : TheManufacturer.com
Published : 29 Nov 2004 10:21
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Trade and Industry Secretary Patricia Hewitt MP today offered £80 million to help companies kick start new ideas and move them into production.

Ms Hewitt said: "This £80 million investment - part of almost £400million from government - is vital support to businesses to help take the new ideas and technologies out of the lab and into the market. It is not about picking 'winning companies', it is about providing investment where there are clear gaps in the market. We want to kick-start research and development in these areas to ensure that the latest ideas and technologies can be turned into businesses, jobs and prosperity for Britain."

The £80 million of funding will be available for companies to carry out Research and Development in nine high-priority technology areas:

·Design, simulation and

·Micro and nanotechnology

·Pervasive computing

·Waste management

·Smart materials

·Bio-based industrial products

·Energy technologies

·Imaging

·Opto-electronic and disruptive electronic technologies

The £80 million funding is available through two of the DTI's new business support products in the form of grants for research and development and to promote networks in specific technology areas.