The Government is investing £200m in a network of elite Technology and Innovation Centres overseen by the Technology Strategy Board.
These centres – likely to focus on key areas such as renewable energy – will complement and link with other work which the Technology Strategy Board already manages to promote collaboration between universities and business, driving innovation and the commercialisation of new technology and ideas. Examples include the Knowledge Transfer Networks, national networks where business and researchers can share ideas and opportunities, and Knowledge Transfer Partnerships which place graduates in business to work on innovative projects.
Each centre will focus on a specific technology where there is a potentially large global market and a significant UK capability. The centres will allow businesses to access equipment and expertise that would otherwise be out of reach as well as conducting their own in-house R&D. They will also help businesses access new funding streams and point them towards the potential of emerging technologies.
Working with industry and government, the Technology Strategy Board will develop a strategy and implementation plan for the elite network of centres by April 2011.