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Technology Strategy Board given role in boosting SME growth

Simon Quicke

Further details are emerging of the ways the government is aiming to stir growth in the SME sector with its Innovation and Research Strategy being published today.

Following on from the Autumn Statement the strategy outlines how £75m can be spent helping smaller firms grow with the Technology Strategy Board taking a major role in delivering the funds.

Those that are active in delivering energy efficient computing solutions will be some of the first in line to get the cash but there seems to be a general desire to support more R&D across the small business sector.

The Technology Strategy Board will be extending its Launchpad scheme that has so far been supporting the development of the Tech City in East London.

The group is also planning ways to reward those SMEs that collaborate with universities and other knowledge providers to help come up with innovative technology.

Iain Gray, the Technology Strategy Board's Chief Executive, said a great deal of good ideas came out of the SME sector and with innovation came business growth.

"This new package of measures will help to put these businesses at the forefront of the country's economic recovery. This package enables the Technology Strategy Board to do even more to stimulate business-led innovation in its leading role as the UK's innovation agency," he said.


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