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 Read

UC Davis chemist sentenced to four years over explosion

19 November 2014 News and Analysis

news image

Postdoc sentenced over attempt to make explosive device and reckless disposal of hazardous waste

Spanish fly

10 October 2013 Podcast | Compounds

news image

Helen Scales looks at cantharidin, the active ingredient in this famous aphrodisiac

Most Commented

Beetle behind breath test for bank notes

17 November 2014 Research

news image

Photonic crystal inks inspired by longhorn beetle could help to fight counterfeiting

Toxicologists enter the fray on endocrine disruptors

29 July 2013 News and Analysis

news image

Open letter urges the European commission to consult with the scientific community before enacting any regulation