£96m UK Government backing for Scottish innovation

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£96m UK Government backing for Scottish innovation

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Britain’s world-leading researchers and entrepreneurs in Scotland will benefit from an additional £96 million to create the technologies of tomorrow, the Chancellor has announced.

Philip Hammond will expand successful ‘catapult centres’ which are fuelling innovation across the country, including in Scotland, as part of the UK’s ambitious, modern Industrial Strategy. This new funding backs Britain’s brightest talent – supporting work in high-tech labs, cutting-edge factories and advanced training centres.

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So far this has helped create hundreds of new products, services and inventions, including a portable pollution sensor that parents can attach to a child’s buggy, cellular therapies to fight cancer and improve recovery of stroke victims, LED treatment for blindness, and more-efficient wings for aeroplanes.

The Chancellor of the Exchequer, Philip Hammond, said:

“We are backing innovative British companies to grow and create jobs, as we build an economy fit for the future.

Today’s £96 million investment for Scotland will support innovators across the country to create the technologies of the future and the better, highly-paid jobs we all want to see.”

The funding will go to the Advanced Forming Research Centre in Strathclyde (part of the High Value Manufacturing Centre).

The UK has a reputation for innovation and is building on this strength with the largest investment in research and development in 40 years. This is part of our balanced approach, getting debt falling while investing to create more opportunities for the high-skilled, well-paid jobs of the future.

The catapult network supports sectors and technologies that are going to be in high demand in the years ahead. It brings together the best of UK business, science and engineering to work side by side in research and development to ‘catapult’ products from ideas to market. It helps remove barriers to growth, which often can include access to finance, inadequate facilities or skills shortages.

By |2018-08-10T11:26:08+00:00August 10th, 2018|Business News, Funding, National|Comments Off on £96m UK Government backing for Scottish innovation

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