A new report from the Technology Strategy Board reveals how it is working in partnership with the Regional Development Agencies (RDAs) and the Devolved Administrations (DA) to coordinate activities and funding for UK businesses.
The publication, Accelerating Business Innovation across the UK
, discloses that from 2008 the RDAs have plans to align over £400million of funding for TSB priority areas over a three year period. Meanwhile the DA have worked with the TSB to support innovation and technology priorities such as digital and creative industries, energy and advanced manufacturing.
Iain Gray (pictured), chief executive of the TSB, said: "Over the past two years we have worked hard with the RDAs and DAs to align successfully our strategy, funding and activities. We now have a solid and productive two way partnership in place in which RDA and DA programmes and investments directly support the Technology Strategy Board's agenda.
"In turn our own approach and funding decisions are informed by and provide support to the technology priority areas identified by each of the RDAs and DAs. We also recognise and value the contribution the RDAs and DAs bring to our work both in providing local input, ideas and intelligence, and through their extensive reach into their business and wider communities."
According to the report, there is a clear connection between national priorities and action taking place to promote innovation and support innovative businesses. It highlights that, by the three organisations working together, UK businesses are actively encouraged to turn ideas and new technologies into new industries.
Pam Alexander, chief executive of the South East England Development Agency added: "The Regional Development Agencies are investing in new 21st century industries jointly with the Technology Strategy Board to achieve global leadership in high value, highly skilled growth sectors. Our work together enables the collaborations which mean our businesses can increase their cutting edge research and development activity to achieve maximum impact, to drive the UK economy out of recession and to develop the products and services of the future."
To read the full report, clickhere