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Technology Strategy Board to invest £400m to support business R&D and innovation

The Delivery Plan, which is published today, sets out the TSB's priorities for accelerating innovation across the UK. It describes our work over the year as we continue to build our support for innovation and lay the foundations for economic growth. Among the plans:
  • TSB will continue their strong support for SMEs (small and medium-sized enterprises) throughSmartSBRI and other programmes, and will launch a new, UK-wide SME growth programme providing a package of skills, mentoring and coaching support to help innovative micro and small companies to grow their businesses and attract potential investors.
  • There will also be a new online platform, developed with partners, to help showcase innovative companies to potential investors.
  • TSB will run five new Launchpad funding competitions, providing support to SMEs in geographical clusters. 
  • Specialist advisors will help business to take advantage of the EU's €79bn Horizon 2020 innovation and research programme, and the Technology Strategy Board will lead a consortium bid to deliver the Enterprise Europe Network in England, Wales and Northern Ireland. We will also open a permanent office in Brussels to champion British innovation abroad.
  • Two new Catapult centres will also be created, designed to accelerate innovation in energy and precision medicine, which will take the total number of Catapult centres to nine. 
  • The Energy Catalyst will be established - a funding programme to support early-stage innovations through to commercial viability, following the model of our successful Catalysts for the biomedicalagri-tech and industrial biotechnology sectors.

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