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17.06.13

£1m grand innovation challenge launched

The Technology Strategy Board (TSB) will provide the £1m prize money for a new ‘grand innovation challenge’ announced by Prime Minister David Cameron at the G8 Innovation Conference.

Cameron said: “More than any time in history our world is being shaped by innovation, new ideas, new technologies and new companies.”

David Bott, director of innovation programmes at the Technology Strategy Board, said: “The Prime Minister has made it clear that innovation is at the heart of economic growth. This competition aims to get the whole country thinking about how to tackle major challenges through innovation.

“That is why we are very happy to provide the initial prize money for this new venture. We hope it will galvanise the best minds in our country to think about how we can really transform our economy – and our lives – for the better.”

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