Funding boost for tech firms

Businesses involved in leading-edge research and development projects have the opportunity to bid for a share of £80 million, as part of a Government initiative to boost the level of innovation in the UK.


Businesses involved in leading-edge research and development projects have the opportunity to bid for a share of £80 million, as part of a Government initiative to boost the level of innovation in the UK.

Businesses involved in leading-edge research and development projects have the opportunity to bid for a share of £80 million, as part of a Government initiative to boost the level of innovation in the UK.

The £80 million funding, part of the Department of Trade & Industry’s (DTI) Technology Programme, will be available for companies to carry out collaborative research and development in nine technology areas. These include design, simulation and modelling, micro- and nanotechnology, pervasive computing, waste management and minimisation, and smart materials.

“This money will give a massive boost to companies developing exciting technology with long-term applications. The DTI is responding to what businesses need – backing the research and development that will bring commercial advantage to the UK,” commented Graham Spittle, chair of the Technology Strategy Board.

Trade and Industry Secretary Patricia Hewitt added that the investment provides vital support to businesses to help take new ideas and technologies ‘out of the lab and into the market’.

“It’s 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,” she said.

The closing date for applications is 5 February 2005. To find out more about the funding and the technologies being targeted, and for details of how to apply, click here.

(2/12/2004)

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