The UK’s ability to stay at the forefront of world-class manufacturing received a boost of over £170 million today as the Government announced a package to drive future growth.
A high value manufacturing technology and innovation centre will receive over £140 million over a six year period and is open for business.
The centre is formed from seven research and technology facilities from across the country. It will help to kick-start a sustained manufacturing revival by commercialising science – taking ideas from the drawing board to help make them into real products.
The Technology Strategy Board (TSB) will run a competition of nearly £18 million, Technology Inspired Innovation, to fund products inspired by new discoveries and breakthroughs, such as advanced materials, biosciences and nanoscale technologies.
The TSB and the Office for Low Emission Vehicles (OLEV) will also be running a £15 million competition for investment into the research and development of low carbon vehicles.