The Technology Strategy Board has announced that it has generated over £1bn of investment in research and development since 2004.
John Denham, Secretary of State for Innovation, Universities and Skills, announced the figure, which had supported more than 700 projects, at the Innovate07 conference in London.
The board runs the collaborative research and development programme which invests directly in emerging technologies and encourages businesses, academics and research organisations to work together. Funding is awarded in biannual competitions, held in the spring and autumn.
The total was reached after the results of the Spring 2007 competition were announced. This approved £101.55m in funding designated for 76 new projects covering seven technology areas including: design engineering and advanced manufacturing; low carbon energy technologies; and smart, bioactive and nanostructure materials for health.