Money for innovation

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£63million will be available to UK businesses this autumn to help drive forward innovation and create prosperity for the UK economy though the latest round of the Government's £370million Technology Programme.

£63million will be available to UK businesses this autumn to help drive forward innovation and create prosperity for the UK economy though the latest round of the UK Government's £370 million Technology Programme.

Businesses are being urged to exploit emerging technologies, taking ideas out of the lab, into the market place and onto the balance sheet, to ensure UK competitiveness in the growing global economy.

The £63million will be for collaborative research and development projects in six priority areas identified as key in progressing the UK's science and innovation base and moving the UK towards its target of helping increase R&D intensity in the UK (as a percentage of GDP) to reach 2.5% by around 2014.

The competition for collaborative research and development projects will formally open on 24 November with a launch event in London. Supporting this will be a series of regional information days being held across the UK and run with the support of the regional development agencies and devolved administrations.

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