U.K. Government Invests in New Technologies

RESEARCH FUNDING

The British government has committed more than $200 million to two programs that encourage new technologies.

The Department of Trade & Industry (DTI) is offering roughly $150 million to British businesses for research and development in emerging sciences. Companies will be able to apply for grants to carry out collaborative R&D in nine different areas. Among them are micro- and nanotechnology, waste management and minimization, smart materials, biobased industrial products, and energy technologies.

According to Trade & Industry Secretary Patricia Hewitt, the investment "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 R&D in these areas to ensure that the latest ideas and technologies can be turned into businesses, jobs, and prosperity."

News of the DTI fund was followed quickly by the announcement of another pot of money, nearly $60 million, for an R&D network that supports composites technologies. The National Composites Network will have regional centers specializing in particular areas of composites technology. Industry Minister Jacqui Smith said she is counting on the network to help create and secure thousands of high-quality manufacturing jobs.

The composites network is the first recipient of a new system of Knowledge Transfer Network grants announced by DTI in April. DTI launched a five-year program earlier this year called "Creating Wealth from Knowledge"; the funding projects are part of that program.