Firms with 3D printing projects set for £14.7m backing
Government scheme designed to encourage small firms to develop emerging technology
Start-ups willing to undertake groundbreaking 3D printing product development are set for a £14.7m boost, business secretary Vince Cable announced today.
The backing, by the Technology Strategy Board and Research Council, will comprise £8.4m of government funding which will leverage an additional £6.3m of private investment. It is part of a wider £440m project by the Board to encourage start-ups and small firms to undertake development of new manufacturing techniques, which may be too risky or resource-intensive for them to nurture on their own. The funding will be used to help businesses develop 3D printing projects across a wide range of sectors, including healthcare and energy. Healthcare product manufacturers Renshaw will develop facial implants using 3D printing technology backed by the fund, whilst JRI Orthopaedics will lead a project to work on customised hip replacement components. Announcing the funding, business secretary Vince Cable said: “Investing in tomorrow’s technology will bring jobs and economic growth throughout the UK. That’s why last month the Government announced the biggest ever investment in the work of the Technology Strategy Board. With £440 million of funding they will support new manufacturing techniques to maintain the UK’s position as a world leader in technology and design. “This joint investment with the Research Councils highlights the commitment from across the sector to boost manufacturing in the UK.”