The UK Science Minister, Lord Sainsbury has signed an agreement with China, which will lead to new closer science and technology ties.
Opportunities include the establishment of a joint centre for research into intelligent transport systems at Southampton University, and an enterprise competition to assist UK venture capitalists to work with Chinese entrepreneurs.
Lord Sainsbury was in China this week to open the first ever UK-China High Tech trade forum, part of the ‘Britain at the Leading Edge’ showcase promoting UK and Chinese technology.
The Memorandum of Understanding signed by the two governments includes a joint £200,000 fund to promote scientific networks between the two countries and a feasibility study looking at establishing a Chinese incubator on a UK Science Park.
A further provision of the Memorandum of Understanding is an enterprise competition with total prize money of £100,000, which is aimed at encouraging young Chinese entrepreneurs in high tech sectors to come forward with project proposals for British venture capitalists
‘I am pleased that the High Tech forum has been such a success, raising awareness of each country’s science and technology, and facilitating future collaborations between UK and Chinese companies and research teams,’ said Lord Sainsbury. ‘The event has enhanced the reputation of the UK in China, and has been the ideal forum for UK and Chinese business to forge links with scientific and technological research in both countries.’