UK government announces £400m innovation fund


The UK government’s Technology Strategy Board (TSB) has set aside £400 million to help companies commercialise new technologies in the 2014–15 financial year.

The TSB, which was set up in 2007 to create economic growth by supporting innovation in UK businesses, has released its delivery plan for 2014–2015, which includes £400 million that will be made available to companies through competitions. The cash will be divided up between priority areas such as healthcare, energy and transport.

The TSB also plans to focus more on supporting small and medium enterprises (SMEs), and has said it will increase financial support available to these by £10 million this year. In addition, two new Catapult centres – in precision medicine and energy systems – will join the seven already established, and a third, which is slated to focus on replacing animals in research, is being considered.


Related Content

Horizon 2020 - New European funding for research and innovation

13 February 2014 Webinars

news image

Find out how you can engage with the Horizon 2020 European funding programme

The hunt for innovation

31 January 2014 Premium contentFeature

news image

Big pharma companies are embracing a more open and collaborative approach. Nuala Moran discovers who’s working with whom

Most Commented

WHO clarifies glyphosate risks

23 May 2016 Business

news image

UN and WHO panel conclude the herbicide glyphosate is ‘unlikely’ to cause cancer at realistic exposure levels

Large HIV vaccine trial to launch in South Africa

24 May 2016 News and Analysis

news image

US funding agency will enlist 5400 people for HIV vaccine study in South Africa in November