Government invests additional £7m and announces plans for new Catapult centres
Plans to expand technology and innovation centres with two new sites
Business secretary Vince Cable announced today the government is set to expand its existing network of small business-focused Catapult centres, with an additional £7m investment planned for its manufacturing site.
Established by the Technology Strategy Board, the centres are intended to boost the development of technology and innovation in seven different areas including satellite applications, cell therapy, offshore renewable energy, future cities, transport systems, digital economy and manufacturing.
Today’s announcement will see a further two sites added to the scheme with one focused on energy systems to help UK businesses tackle future supply and demand in the UK and overseas.
The other will concentrate on diagnostics for stratified medicine and will seek to enable businesses to develop new treatments and reduce healthcare costs. Both sites will launch over the next three years.
Following the success of its High Value Manufacturing Catapult, which has now engaged with almost 2,000 businesses on 830 projects, the government is set to invest an extra £7m in the site.
Discussing the government’s plans, Cable commented: “Catapult centres have made a significant contribution over the last year, supporting businesses and developing new technologies.
“The total public and private sector investment in the Catapults so far is £1.4bn and further investment will follow.
“By committing to investment in new technologies now, we are laying the foundations for the high-growth businesses of the future. This will allow them to grow, take on more employees and keep the UK at the forefront of global innovation.”