Whitehall funding boost for channel innovators

Government £1bn programme will match firms investments on pound-for-pound basis

Channel players look set to benefit from a £1bn investment by the Department for Innovation, Universities and Skills (DIUS), which will enable more government research and development funding for small businesses running their own technology projects.

The funding will be invested over a three-year period, from 2008, into a support prorgramme that commenced in 2004, led by the Technology Strategy Board (TSB).

In partnership with research councils and regional development agencies (RDAs), TSB aim to improve technology innovation and help plug the skills gap.

Nick Sheppard, a representative for TSB, said: “By coordinating with what the research councils and RDAs already implement, TSB will take it one step further and focus on product development and promoting innovation.”

“Through the programme, SMEs, or any other sized business, can apply for our help with their own technology projects. TSB invests in collaborative research and development so will match whatever funds the collaborative parties have raised to encourage the product to market faster,” added Sheppard.

TSB offers knowledge transfer partnerships where a graduate is placed into a company to help drive a project.

“TSB finds a high-calibre graduate suitable for the company’s needs and employs them for a year or two,” Sheppard said.

“This will aid the channel in its lack of skilled graduates and is beneficial for the business, which will complete its project quicker.”

Shaun Parsons, managing director of VAR Computer World Wales, said: “We had to fund our own project and it would have been easier if we had had help. These investments are not marketed very well and are difficult to hear about. It’s as if they don’t want to spend the money.

“A graduate employed by another company would mean that they can focus on the project, whereas if they were employed by us they may be used to assist in other areas of the business instead,” he added.