Proposals for £200 million network of Technology and Innovation Centres

The government has invited organisations to register their interest in forming a technology and innovation centre focused on the area of high value manufacturing. The centre will be the first of an elite national network of centres, to be established and overseen by the Technology Strategy Board, that will work in partnership with universities and businesses to help commercialise the results of research in specific technology areas where there are potential multi-billion pound global markets.

Deputy Prime Minister Nick Clegg, said: “The banking crisis made one thing completely clear: Britain needs a new kind of growth. It is not right, sensible or fair to be dependent solely on the City of London and on financial services. We should be at the cutting edge of science, manufacturing and technology. And this innovation should be happening in towns and cities across the UK, creating opportunity for everyone, no matter where they live. Secretary of State for Business Dr Vince Cable, said: “Britain’s economy has been too reliant on the financial sector and we need to diversify as we go for sustainable growth. It is crucial that we support UK industry to turn the discoveries of our world-leading researchers into world-beating products and services.”

The Technology Strategy Board prospectus also outlines plans to establish other centres focused on Energy & Resource Efficiency, Transport Systems, Healthcare, ICT and Electronics, Photonics & Electrical Systems. It calls for business, academic and other interest groups to comment on the proposals and help shape how the centres will be developed. The Technology Strategy Board received funding of £200m in the Comprehensive Spending Review for the Centres. Department of Trade & Industy.