A scheme to boost the technology output of major cities around the UK has expanded into medicine and energy as it reaches £1.4bn in funding.
The Catapult scheme, devised by the Technology Strategy Board earlier this year, seeks to boost the UK's reputation in high-tech industries including the "connected digital economy", transport systems and high-value manufacturing.
The Department for Business, Innovation and Skills said that £1.4bn had already been invested in the schemes through both private and public investments, and has now added an extra two Catapult categories to the programme: Diagnostics for Stratified Medicine and Energy Systems.
The Energy Systems Catapult is intended to assist UK businesses to take on the challenge of creating future-proof energy systems for both home-grown and overseas projects. Meanwhile, the new Stratified Medicine Catapult is intended to improve individual patient care, and reduce the cost of healthcare overall.
Business secretary Vince Cable said that the two new project areas would help the UK fight on the global stage for high-value industries. "By committing to investment in new technologies now, we are laying the foundations for the high-growth businesses of the future," he explained. "This will allow them to grow, take on more employees and keep the UK at the forefront of global innovation."
The Catapult scheme is intended to help the government meet targets including increasing exports and making the UK "the best place in Europe to start, finance and grow a business".
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