TSB aids innovation centre creation

The TSB has been tasked to work with industry, stakeholders and wider government, including the Research Councils, Regional Development Agencies and Devolved Administrations, on the implementation of the recommendations in the Hauser review, a report by technology entrepreneur Hermann Hauser. The report looks at leading technology and innovation centres in other countries and recommends that the UK builds its own network.

The centres will collectively help to commercialise the output of the UK’s research and will drive economic growth in potential high-growth sectors that will emerge from commercialising technologies such as stem cells and regenerative medicine or future internet technologies. According to the TSB, commercialising these technologies could enable the UK to capture a significant proportion of global markets, potentially worth billions of pounds.

Lord Mandelson said: ‘Too often in this country we have been brilliant at research and let others walk away with the commercial benefits of development. If we are to develop new industrial capabilities in Britain, we have to get more D out of our R&D.