TSB receives record £440m budget to support innovative business and growth
Tue 14 May 2013
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The Technology Strategy Board (TSB) has received a record £440 million budget this year from the Department for Business, Innovation and Skills to support innovative businesses and drive growth across the UK.
The 2013-14 funding, which represents an increase of more than £50 million on last year, is intended to provide an even wider range of support across the entire innovation journey. Technology areas that will benefit from the investment include renewable energy, future cities, advanced materials, satellites, digital technologies and healthcare.
Universities and Science Minister David Willetts said: "The UK has some of the most innovative business in the world. The £440 million budget means that there will be more funding available than ever before for businesses across the country to bid for and help turn their ideas into reality – bridging the so called ‘valley of death’.
Over 60 per cent of the Technology Strategy Board's funding goes to small and medium sized businesses. The organisation works across business, academia and government, helping companies take ideas through to commercialisation.
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