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May 9th, 2008
The UK's Technology Strategy Board (TSB) has outlined how it will invest £1 billion over the next three years to boost innovative R&D and business. The plan means chemists could see more funding in areas such as energy generation, alternative building materials, nanotechnology and low carbon transport.
'We have to get innovation out of the laboratory to the forefront of business attention,' said TSB chief executive Iain Gray - echoing the sentiments of John Denham, the minister for the UK's Department for innovation, universities and skills (Dius), in his March 2008 white paper, Innovation Nation. First founded in 2004 to advise government funding, in July 2007 the TSB was turned into a business-led public funding body operating at arm's length from government.
A quarter of the TSB's funding will be apportioned to technology areas - such as materials, nanotechnology and electronics. And the final quarter to supporting networks which connect universities, development agencies, small businesses, and industry; amongst them, the chemistry innovation knowledge transfer network (CIKTN) which was formed two years ago.
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