The UK Government has pledged to provide £82 million to spur innovation in the energy industry.
It is part of the Technology Strategy Board’s (TSB) 2014-15 Delivery Plan, which outlines investments worth more than £400 million across different sectors.
It aims to introduce a business growth programme for small and medium sized businesses to provide a package of skills, mentoring and coaching support. An online platform will also be developed to help match innovators with possible investors.
Universities and Science Minister David Willetts said: “Innovation is booming in this country and it is part of our long term economic plan to invest in ambitious entrepreneurs and businesses to help them grow and succeed in the global race.”
A new ‘Catapult Centre’ has been launched for energy systems – a technology and innovation facility where UK businesses, scientists and engineers can work side by side on research and development, transforming ideas into new products and services.