Following the government's recent Innovation and Research Strategy for Growth which has allocated millions of pounds across technology fields, the UK government has also announced a £75 funding to technology and innovative SMEs in a bid to boost innovation and research in the UK, whilst attempting to spur companies to grow.
The announcements set out the government's plans to boost economic growth through investment in SMEs.
The allocated £75m for the Technology Strategy Board is hoped to ensure high tech innovative SMEs have access to the facilities and finance they need to develop and commercialise their products.The strategy, launched by Business Secretary Vince Cable and science minister David Willetts
Vince Cable, business secretary who launched the strategy, believes that by improving incentives companies would be encouraged to create life changing products. The allocated £75m for the Technology Strategy Board is hoped to ensure high tech innovative SMEs have access to the facilities and finance they need to develop and commercialise their products.The strategy, launched by Business Secretary Vince Cable and science minister David Willetts
David Willetts, science minister, said the new innovation and research strategy was the next step in ensuring that the UK provided the best possible environment for entrepreneurs and innovators.
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