UK business secretary Vince Cable has announced a £50m investment kitty for what he describes as "game-changing technologies".
Cable revealed the fund on Wednesday, explaining that the money will go to developers who lack the necessary investment to take products to market.
The fund is part of the government's Emerging Technologies and Industries Strategy 2014 to 2018 that focuses on seven areas: synthetic biology; energy-efficient computing; energy harvesting; non-animal technologies; emerging imaging technologies; graphene technologies; and quantum technologies.
The announcement was made at the government-sponsored Innovate UK conference. Innovate UK, formerly the Technology Strategy Board, welcomed the additional investment, saying that it would inject resources into a growing market.
"Much of Innovate UK's funding and expertise goes to support business innovation where the commercial opportunities are well understood and the technological challenges known," said Iain Gray, chief executive of Innovate UK.
"But it is vital that we also look further ahead, scanning the horizon for the breakthroughs of tomorrow.
"With our strong and inventive research base, the UK is an excellent source of high potential early-stage technologies.
"This new investment will help make the push for full commercialisation, creating real economic growth for the UK in the process."
Earlier this week Cable launched Tomorrow's Engineers Week with a £30m fund for developing roles in the industry. Around £20m will be used to encourage women into the industry.
"A strong British engineering sector lies at the heart of sustainable economic recovery. That's why we have joined forces with industry to secure the pipeline of talented and skilled engineers UK industry needs," said Cable.
"Tomorrow's Engineers Week is about ensuring that each and every young person across the country is aware of the exciting future they could have as an engineer."
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