The Technology Strategy Board
The Technology Strategy Board was established by the Government as a business-led executive non-departmental public body in July 2007, and is sponsored by the Department of Innovation, Universities and Skills (DIUS).
The Technology Strategy Board has a wide remit - to stimulate innovation in those areas which offer the greatest scope for boosting UK growth and productivity. It operates across Government and in partnership not only with business but with Government Departments, Regional Development Agencies, Devolved Administrations and Research Councils.
The Technology Strategy Board is focused on innovation driven by business needs.
The Technology Strategy Board aims to:
- promote and support technology and innovation for the benefit of business, in order to increase sustainable economic growth and improve the quality of life;
- provide leadership to Government Departments and agencies, Regional Development Agencies, Devolved Administrations and the Research Councils to create a more effective UK innovation environment and to collaborate with them to stimulate UK innovation of importance to UK business;
- deliver a programme of financial support to encourage business investment in technology and innovation so technology-inspired businesses sustain or attain global significance;
- understand the drivers of change which create the innovation needs of business and provide insight into the process of turning technology and innovation into money;
- advise Government on barriers to business innovation and the exploitation of new technologies - and make recommendations for removing them;
- establish a more innovative society.
The global economy is changing rapidly and the challenges we face as a society are moving in new directions. The UK needs to understand how to play its part in that economy and how the challenges it faces are also the future opportunities. We need to build now for the future and that means ensuring UK business is best placed to be successful.
The vision: "for the UK to be a global leader in innovation and a magnet for innovative businesses, where technology is applied rapidly, effectively and sustainably to create wealth and enhance quality of life."
To achieve this vision the Technology Strategy Board will play a leadership role and act as a catalyst to enable UK business to be at the forefront of technology development and innovation, leading to new products and services for wealth creation and quality of life benefits.
The Technology Strategy Board will invest in line with three main themes: challenge-led innovation, technology-inspired innovation and the innovation climate.
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