Catapults get £215m in extra funding
The UK Government has announced further spending on the UK’s Catapult innovation centres, as part of its modern Industrial Strategy, with a merger for the ITS (UK) member Transport Systems Catapult.
It says the £215 million investment is in the Digital, Medicines Discovery, Future Cities and Transport Systems Catapult centres and builds on an announcement in the summer by the Chancellor of the Exchequer, Phillip Hammond, and fully funds all centres for the next five years.
The TSC will combine with the Future Cities Catapult, which the Government says brings together their skills and expertise in tackling the problems of modern city living and shaping the future of mobility and that the new Catapult will help businesses “to access the UK’s world-leading research expertise more easily, enabling them to grow faster, create more jobs and keep the UK at the forefront of urban and transport innovation”.
The centre will operate from sites in London and Milton Keynes.
Business Secretary Greg Clark, said, “The Catapult network offers the technical expertise and equipment to allow businesses to take on the challenges and opportunities we expect to face in a future world.
“We’re backing experts to push new boundaries, so our future economy reaps the benefits of new technologies with more highly skilled jobs. Investment in research and development is at the heart of our modern Industrial Strategy as we build on the UK’s reputation for scientific innovation.”
Minister for Digital, Margot James added, “This additional funding will help us develop the cutting-edge technology of the future and build on the fantastic new statistics out today, which show we are leading Europe in producing fast-growing, digitally focused, billion-dollar businesses.
“The UK is a hotbed of innovative tech talent and the Digital Catapult will continue to play a vital role in making sure the sector has the foundations to thrive as we build a Britain that is fit for the future.”