Trade and Industry Secretary Patricia Hewitt has offered £80m investment to businesses for research and development into innovative technologies, including security.
The announcement comes out of the DTI’s recently published five-year programme ‘Creating Wealth from Knowledge’ and the DTI’s proclaimed new industrial policy as a champion of science, innovation and technology. Deadline for intial applications is February.
Ms Hewitt said: "Our five-year programme demonstrated a clear shift in the DTI’s role as a national champion of science, innovation and technology. We need to invest in these areas if we are to successfully compete in the global knowledge economy.
"This £80m investment – part of almost £400m from government – is vital support to businesses to help take the new ideas and technologies out of the lab and into the market.
"It is not about picking ‘winning companies’, it is about providing investment where there are clear gaps in the market. We want to kick-start research and development in these areas to ensure that the latest ideas and technologies can be turned into businesses, jobs and prosperity for Britain."
The £80m of funding will be available for companies to carry out Collaborative Research and Development in nine high-priority technology areas
