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Technology Strategy Board £250m innovation investment published

UK businesses have been given a clearer view on Government investment in 12 key areas, as information is published on investment through the Technology Strategy Board.

Up to £250m will be available through around 60 competitions in areas such as healthcare, energy, transport and manufacturing.

The TSB Delivery Plan also outlines a package of support for SMEs and ongoing activity to establish seven new Catapult centres in a network of innovation in specific fields, by 2013.

Business secretary Vince Cable said: “Innovation is a key part of our plan for growth and the Technology Strategy Board is actively supporting industries where theUKis one step ahead of the competition. We already have some great industrial success stories, like our aerospace, energy and healthcare industries where innovations have been effectively translated into commercial use.

“I want to encourage this in other sectors. That is why the network of Catapult centres, in particular the High Value Manufacturing Catapult, will give a big boost to supporting research and development that is aligned with strategic commercial objectives, strengthening our economy.”

Chief executive of the TSB, Iain Gray, said: “The Technology Strategy Board is now in a position where it can provide a detailed longer term view on  plans about new investment in priority areas, giving businesses up front information about some of the important new opportunities that we are making available up until March 2013.”

The investment has been broken down as follows:

Up to £65.7m in healthcare

Up to £37.5m in the built environment  

Up to £26m in energy

Up to £23.5m in transport

Up to £10m in food

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