Innovation investment unveiled

Energy is the area earmarked to receive the most, up to £82 million, closely followed by health and care with £80 million, according to the body’s Delivery Plan: Financial Year 2014-15 – Accelerating Economic Growth.

The document lists 12 “priority areas” designated for multimillion-pound investment to facilitate innovation projects, including those involving universities.

Other fields earmarked for major sums include high-value manufacturing (£72 million), transport (£70 million) and urban living (£63 million).

At the smaller end of the scale, £13 million is being committed both to the built environment and resource efficiency, according to the report published last month.

Enabling technologies – which include advanced materials, biosciences, electronics, sensors and photonics, and ICT – will get £20 million, accounting for 4 per cent of the board’s overall investment.

holly.else@tesglobal.com