Government Launches UK Tech Centre Initiative

The government has set aside £200 million to fund a network of technology and innovation centres, as part of its efforts to stimulate the UK’s R&D capabilities and reduce the country’s reliance on the financial services sector.

The initiative was launched by Deputy Prime Minister Nick Clegg, and will be overseen by the Technology Strategy Board.

The plan is to create a network of between six and eight technology innovation centres that will work with both universities and businesses, to “help commercialise the results of research in specific technology areas where there are potential multi-billion pound global markets.”

Innovation Drive

These areas include energy and resource efficiency, transport systems, healthcare, ICT and electronics, as well as photonics and electrical systems.

In a sign of how seriously the government is taking the idea in these cash strapped times, the Technology Strategy Board received funding of £200 million in the Comprehensive Spending Review back in October.

“The banking crisis made one thing completely clear: Britain needs a new kind of growth,” said Deputy Prime Minister Nick Clegg. “It is not right, sensible or fair to be dependent solely on the City of London and on financial services. We should be at the cutting edge of science, manufacturing and technology. And this innovation should be happening in towns and cities across the UK, creating opportunity for everyone, no matter where they live.”

Rebalancing the Economy

“The programme for technology and innovation centres is a key part of our strategy to rebalance the economy, Clegg added. “We have so much potential here in Britain; now is the time to harness it and build the stable, prosperous economy we want.”

“Britain’s economy has been too reliant on the financial sector and we need to diversify as we go for sustainable growth,” said Secretary of State for Business Dr Vince Cable. “It is crucial that we support UK industry to turn the discoveries of our world-leading researchers into world-beating products and services.”

“The new technology innovation centres will help to equip UK industry with the ability to capitalise on the future global market opportunities by drawing on leading edge research,” Dr Cable added.

“They form a key part of the government’s work to rebalance the UK economy and create new high-value private sector jobs.”

As part of the initiative, the Technology Strategy Board has published a prospectus that will fast-track the creation of a centre focused on high value manufacturing, and outlines plans to establish a network of six to eight world-leading centres in total.

Government Plans

The government is looking at ways to exploit technology and drive innovation in the UK.

For example in November it pledged to invest £400 million in the East End Tech City, which is currently home to mostly small and medium-sized IT firms.

Intel, Google and Facebook have all apparently committed to opening research labs or innovation centres in the area, and BT and Cisco have also been mentioned in connection with the project.

And indeed Twitter executives, who are scouting for locations for their new European headquarters, are also said to be considering London’s ‘Silicon Roundabout’.