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

Antimicrobial resistance will kill 300 million by 2050 without action

16 December 2014 News and Analysis

news image

UK report says resistance will cost global economy $100 trillion

Cutting edge chemistry in 2014

10 December 2014 Research

news image

We take a look back at the year's most interesting chemical science stories

Most Commented

A bad business

19 December 2014 Critical Point

news image

Targets and assessments can boost productivity at universities – but only if they do not stifle creativity and alienate the...

Chemistry behind the ‘blue man’ unlocked

1 November 2012 Research

news image

Biochemical model suggests that silver ions, not nanoparticles, cause a rare skin complaint