The government has announced that the Technology Strategy Board is to be changed to benefit innovation-minded small businesses.
Trade Secretary Alistair Darling said the board will become ‘relentlessly business focussed.’
The board, previously part of the Department of Trade and Industry, is to become independent as a result of the changes.
The aim is that this will allow it to focus on promoting the development of science and technology for the benefit of small businesses and the economy.
It will also take over the funding of the £178m Technology Programme, designed to help companies to develop technologies that could be beneficial to business in the future.
The Technology Programme will also receive a further £50m to support technology and innovation, Mr Darling said.
The board will fund industry research and development projects, advise government, and help businesses to take up new innovative technologies.
It will also deliver a programme of government support for business investment in, and use of, technology and innovation through support for research and development, according to Darling.
“As an independent body, I want the Technology Strategy Board to further build ties with business and continue to focus on areas of UK strength.” Graham Spittle, chairman of the Technology Strategy Board, commented.
Darling added: “Strong technology and innovation helps make a strong economy, which is why the Technology Strategy Board is relentlessly focussed on business.”
© Crimson Business Ltd. 2006
