TECHNOLOGY
Nicholas Soames: To ask the Secretary of State for Business, Innovation and Skills what plans he has to improve the ability of UK firms to adopt new technologies. [188505]
Mr Willetts, Minister of State for Universities and Science: Through the Industrial Strategy, the whole of Government is working in partnership with industry to set the long term direction needed to give businesses the confidence to invest-creating more opportunities, skilled jobs and making the UK more competitive so that British businesses can thrive and compete with rising economies. The Industrial Strategy has five main strands: technologies, access to finance, skills, procurement and sectors.
We are investing in emerging technologies, where the UK has the depth of research expertise and the business capability to develop and exploit these. This includes £600 million to develop and commercialise eight great technologies and over £500 million for seven Catapult centres to speed up technology commercialisation, getting products to market faster.
The industrial strategy accelerates technology uptake through releasing constraints on the supply side but businesses themselves are best placed to make decisions on technology adoption. There are some exceptions, however, where there are clear market failures, such as CO2 emissions reductions, new energy technologies, improving waste utilisation, and rural broadband where specific policies improve technology uptake.
We also help businesses accelerate the development and commercialisation of new technologies through the programmes delivered by Technology Strategy Board, including Collaborative R&D and Smart schemes, which are focused on supporting research and development projects in businesses, and the Small Business Research Initiative, which aims to provide business opportunities for innovative companies whilst solving the needs of Government Departments. The Technology Strategy Board also supports Knowledge Transfer Networks, which help increase the breadth and depth and rate of knowledge transfer of technology into UK-based businesses, and provides opportunities for innovative businesses through the growing network of Catapult centres.