Government invests £200m in high-tech industry


Government invests £200m in high-tech industry

Rebecca Thomson

The government is investing £200m in digital and advanced manufacturing businesses as part of a drive to boost skilled jobs in the UK.

The government pledged £100m, and this was matched by another £100m raised by the European Investment Fund. The money will be invested in technology-based businesses "where there are significant growth opportunities".

The move follows the announcement of a £125m investment in the low carbon and clean technology sectors last month.

Prime Minister Gordon Brown said the emphasis is on creating high-skilled jobs. He said at the Global Investment Conference, "This fund shows our commitment to the industries and the technologies that will create the skilled jobs of the future.

"The fund, seeded by the government, is bringing private venture capital to growing enterprises. It is already providing £125m of funding to high-tech, low-carbon businesses. From today, a further £200m will be available for life sciences, digital and advanced manufacturing."

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy