Monday, November 29, 2004

Britain offers cash prizes for bright ideas

Minister to provide funds for innovative projects (

    Patricia Hewitt, the trade and industry secretary, will launch a competition today offering £80m in grants for companies that invest in nine technologies believed to be of national importance.

    The government's technology strategy board, made up of senior business executives, venture capitalists and civil servants, decided the key technology areas at a meeting earlier this month.

    Companies with a bright idea in nanotechnology, pervasive computing and new waste management techniques will be able to compete for the funds.

    Money will also be given to projects involving bio-based industrial products, notable for using fewer natural resources, and smart materials, such as those that reduce the effects of earthquakes on bridges.

    In addition, the competition will allocate cash to projects involved in computer modelling for design work, renewable energy technologies, imaging systems and opto-electronic technologies. More here

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