The National Technology Strategy is designed so that the UK is seen as a global leader in innovation and a magnet for technology-intensive companies, where new technology is applied rapidly and effectively to create wealth.

The Technology Strategy Board has been created to support this vision. The Board will identify new and emerging technologies critical to the growth of the UK economy into which government funding and activities can be directed. In July 2007 The Technology Strategy Board became an Executive Non Departmental Public Body based in Swindon. The new Technology Strategy Board has taken over responsibility for the delivery of a programme of Government financial support through collaborative R&D and knowledge transfer to encourage business investment in, and use of, technology across all sectors of the UK economy.

Modelling and Simulation has been identified as a target area for the Technology Strategy. The Industrial Mathematics KTN supported the development of the Technology Strategy in this area by coordinating input from industry and academia.

The Industrial Mathematics KTN will provide further input to the Technology Strategy through the exploration of modelling and simulation challenges in strategic areas such as financial products, energy supply and transport.