Last edited 15 Jun 2016

Technology Strategy Board TSB

NB in August 2014, the Technology Strategy Board was renamed 'Innovate UK'

Innovate UK stated, 'The nature and remit of the organisation will remain the same. It will continue to fund, support and connect innovative businesses through a unique mix of people and programmes to accelerate sustainable economic growth.'

The Technology Strategy Board was originally established in 2004 to advise the Secretary of State for Trade and Industry on business research, technology and innovation. On 1 July 2007 it took on a wider role and was re-structured as an arm's length, business-led, executive non-departmental public body (NDPB) sponsored and funded by the Department for Business, Innovation and Skills (BIS).

It now describes itself as 'the UK's innovation agency', stimulating innovation by working with business and other partners, to accelerate economic growth.

In 2013/14 it had a budget of £440m. Project funding is usually matched by business, and as a result of this and other partner contributions, the Technology Strategy Board enabled around £2.5bn of investment in its first five years.

The Technology Strategy Board is required to act in accordance with a management statement and financial memorandum. It has a governing board, with representatives from business, research and innovation. It is run by a chief executive, management team and around 200 staff.

The Technology Strategy Board manages a wide range of innovation programmes, including:

  • Knowledge Transfer Partnerships.
  • Knowledge Transfer Networks.
  • Collaborative Research and Development.
  • Smart (formerly Grant for Research and Development).
  • Innovation Vouchers.
  • Catapult Centres.

The Technology Strategy Board established the Low Impact Buildings Innovation Platform in 2008 focusing on six challenges:

On 3 March 2015, Innovate UK published Future building, The Low Impact Building Innovation Platform, which set out how up to £60 million in grant funding will be invested between 2015 and 2019.

The Technology Strategy Board also funds the Modern Built Environment Knowledge Transfer Network (MBE KTN) and is establishing a Catapult centre in Future Cities.

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