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UK government gives businesses £57m boost to bring ideas to market

Staff Writer | July 8, 2016
A new funding boost of £57.5 million was announced for the UK’s energy and infrastructure, biomedical and quantum technology sectors by Business Secretary Sajid Javid at the first inter-ministerial group on business engagement.
Sajid Javid
Idea in Britain   New sustainable energy and transport solutions
Chaired by the Business Secretary, the meeting brought together ministers from across government to discuss issues and challenges facing businesses in all sectors, and how government could support them following the outcome of the EU referendum, including creating opportunities for investment and trade.

At the meeting Sajid Javid also announced the immediate creation of a new £57.5 million fund to help boost innovative businesses across a range of sectors.

The best ideas will compete for funding to develop new sustainable energy and transport solutions, bring new healthcare advancements to market and drive forward commercial advances in quantum technology.

Business Secretary Sajid Javid said: "Creating opportunities for businesses to thrive in the UK is essential for increasing productivity, creating jobs, and boosting our economy. That’s why government is working with businesses across all sectors to ensure they have the support they need to grow now and in the future."